Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF) has chosen four new executives to help spearhead the Chicago-based operator’s management team, the company said in a Tuesday release.
The leadership promotions include:
- Anthony Georgiadis to president
- Matt Faulkner to chief financial officer
- Bret Kravitz to general counsel and secretary
- Rachel Albert to chief administrative officer
The company also appointed Dawn Wilson Barnes to the board of directors.
The appointments will be effective Jan. 1.
The news comes a couple months after three of Green Thumb’s four independent board members departed in October, along with company’s general counsel and corporate secretary, Beth Burk. All three directors were part of the company’s audit committee.
Green Thumb said the resignations were not related to financial performance, statements, or financial controls, but were over a “disagreement as to the company’s policies and practices related to personal misconduct.”
Green Thumb has been mostly mum on the issue.
In a statement on Tuesday, CEO Ben Kovler said that the C-suite changes “reflect the natural evolution of high-performing team members to positions of greater responsibility and demonstrate our conviction in the strength of our leadership.”
The company said that Georgiadis will continue to work closely with Kovler on corporate strategy and operations, “while allowing Kovler to focus greater attention on capital allocation, strategic partnerships, brand positioning, investor relations, and mergers & acquisitions.”
Georgiadis joined Green Thumb in 2015 and has served as CFO since 2017.
Replacing Georgiadis, Matt Faulkner has been Green Thumb’s chief accounting officer since his promotion in 2020, and “helped successfully facilitated the company’s initial U.S. public offering and led the transition to reporting under U.S. generally accepted accounting principles (GAAP) with the U.S. Securities and Exchange Commission.
Kravitz has served as the company’s chief corporate counsel since 2017. “Throughout his tenure, he has closed numerous strategic acquisitions, partnerships, and capital raises in coordination with Green Thumb’s executive team,” the company said.
Albert, a former consultant for the company’s human resources department, will take on the role of chief administrative officer, “supporting executive initiatives and decision-making while helping to shape Green Thumb’s culture.”
GTI said that Barnes will take a seat on the board of directors as an independent director and member of the audit committee.
“We are thrilled to welcome Dawn as an independent member to Green Thumb’s board. As a seasoned financial professional with expertise in capital markets and audit, she will be a strong addition to the team,” Kovler said. “Dawn’s appointment to our board will further strengthen our corporate governance, which remains a top priority for Green Thumb.”
Barnes currently serves as president and founder of Atlanta-based financial services firm Aurora Bay Capital.
GTI said that it will “actively recruit” additional board members in preparation for a potential U.S. listing, hiring an external recruiting firm to assist with the search.