Why Are Outside Execs Pouring Into Cannabis Industry C-Suites?

As the cannabis industry scales, so does its need for experienced business veterans to steer companies towards the top. The demand has led to an influx of executives entering the space from other industries.
Most in the cannabis industry note that the move is a likely response to a nascent space. However, as recent analyses revealed, gender and diversity gaps persist at the top of cannabis companies.
Why Hire Executives From Outside Industries?
Numerous cannabis companies continue to lack the needed boardroom experience to bring a startup to a grander stage.
That skills gap led to the demand for outside industry talent in recent years. The trend continues today as more companies come online.
Nichole McIntyre, urban-gro Inc (NASDAQ: UGRO)'s vice president of human resources, told that bringing in leadership from industries experiencing similar regulations is helpful as companies scale.
Luis Merchan, CEO of Flora Growth Corp (NASDAQ: FLGC), echoed similar sentiments.
"The industry is going through a period of transformation where operations, supply chain management, project management and financial discipline are becoming imperatives in the skill set of executives that lead cannabis companies," Merchan said.
Luke …

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