MedMen's Chief Revenue Officer Quits

Late after the market closed on Friday, MedMen Enterprises Inc. (OTCQB: MMNFF) announced that its Chief Revenue Officer Tracy McCourt was resigning effective March 4, 2022. McCourt has only been in the job for a little over a year. It was a new role that was described as leading the omni-channel marketing strategy as well as the company’s buying, merchandising and business intelligence efforts. She was hired by the former CEO Tom Lynch.

In her past, McCourt led the strategy for the brand affinity team at Zappos, where she developed the brand marketing strategy to align business goals with merchandising strategy. Before joining Zappos, she was the Chief Marketing Officer for Frederick’s of Hollywood, where she increased the net operating profit of the division by 84% in her first year and then drove subsequent fiscal year profit expectations by double-digit growth year-over-year by creating operational efficiencies and new revenue opportunities.

“We appreciate Tracy’s contributions to the organization these past 14 months and wish her well in her future endeavors,” said Michael Serruya, MedMen’s CEO & Chairman.

In January, McCourt was named President of Emerald Village West Hollywood, the official marketing organization for licensed cannabis businesses in West Hollywood. At the time she said, “It’s an honor to lead an organization dedicated to promoting West Hollywood’s vibrant cannabis industry. Working together with a group of diverse cannabis retailers in the community, we’re positioning WeHo as the capital of cannabis culture and curated experiences for tourists and locals alike.”

MedMen seems to be in a constant state of upheaval. The company recently won a contentious lawsuit with its former CFO James Patterson and is trying to claw back money from Patterson. The company is also currently fighting its agreement to sell its New York assets to Ascend Wellness Holdings. Last week, the California-based cannabis company accused New York state cannabis regulators of being influenced by campaign money in order to speed up the approval of the acquisition.

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