Major Cannabis Company Affiliated with Jay-Z Hires a Black CEO
California’s leading cannabis firm announced Monday that it appointed Troy Datcher, formerly of Clorox Co., as their new chief executive officer. The Parent Company often makes headlines because it carries Jay-Z's own cannabis brand Monogram in its portfolio and because the rapper serves as its ‘chief visionary officer’.
Jay-Z also leads the Parent Company’s social justice program which is meant to right a wrong inflicted upon the Black community by the decades-long war on drugs. The decision to hire Datcher is in line with this policy but is also a means to bring a major business talent to an industry with high growth potential.
One of the Leaders of Corporate America to be Involved in Cannabusiness
Datcher worked with Clorox for almost 20 years and held several top jobs. Most recently, he served as chief customer officer but was also in the spotlight as the vice president of sales and sports marketing where he worked closely with the NBA. He is considered one of the most influential Black leaders of corporate America.
His new employer hopes that Datcher’s business acumen and leadership expertise will help The Parent Company become a prominent and enduring player in the cannabis industry. The Parent Company is a large vertically integrated organization growing and selling marijuana in California.
Sharing Wealth with the Black Community
Datcher said in a statement that he sees his new position as a chance to partner with such ‘cultural powerhouses’ as Jay-Z and Desiree Perez to make the budding cannabis industry accept ‘diversity, equity, and justice’ as the pillars of its corporate culture.
It will be only fair if the company, and the industry in general, break down the barriers that often prevent minority entrepreneurs from having a shot in a new sector with its many opportunities and vast fortunes to be made.
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