TPCO Holding Corp - The Parent Company (OTCQX:GRAMF, NEO:GRAMU) - has announced that Dennis O'Malley, the company's chief operating officer has elected to step down in the spring of 2022.
To ensure a smooth transition, The Parent Company said O'Malley will remain with the company until March 15, at which time Troy Datcher, chief executive officer of the company is expected to assume his duties and responsibilities.
The company noted that O'Malley has served as its chief operating officer since January 2021, when The Parent Company completed its qualifying transaction to create one of the largest vertically integrated cannabis operators in California. Prior to that, he served as CEO of Caliva since January 2017.
READ: The Parent Company adds two key hires to bolster its executive team and social equity ventures program
In a statement, Datcher commented: "Today our business is well-positioned with both high-quality cannabis products and reach to become the preferred choice for California cannabis consumers. Our recent announcement of the extension of our voluntary lock-up agreement from 100% of Board Directors and key members of our leadership team reinforces confidence in our long-term plans to deliver shareholder value."
"On behalf of myself, our Board, and the entire senior management team, I would like to sincerely thank Dennis for the dedication and passion he has displayed during his time here. We wish Dennis the best in his future endeavors," The Parent Company CEO added.
O'Malley added, "It's been a privilege over the last five years to work with such outstanding people. I know the Company is in good hands for the future."
TPCO is California's leading vertically-integrated cannabis company, combining best-in-class operations with leading voices in popular culture and social impact.
It brings together global icon and entrepreneur Shawn "JAY-Z" Carter, entertainment powerhouse ROC NATION, California's leading direct-to-consumer platform CALIVA, and leading cannabis and hemp manufacturer, LEFT COAST VENTURES, to form a cannabis industry leader for the post-prohibition era.
As the company's chief visionary officer Shawn "JAY-Z" Carter, one of the most recognized and celebrated entrepreneurs of our time, guides The Parent Company's brand strategy in partnership with Roc Nation, the world's preminent entertainment company with a roster of culture-making artists, athletes, and influencers.
Contact the author at jon.hopkins@proactiveinvestors.com