Send me real-time posts from this site at my email
Motley Fool

Cresco Labs Names a Consumer Goods Veteran as Its First Chief Commercial Officer

In what could be part of a trend, Cresco Labs (OTC: CRLBF) has dipped into the ranks of the consumer goods industry for its latest executive hire. The Chicago-based company announced Thursday that it has drafted Greg Butler, a veteran of that sector, to be its first chief commercial officer (CCO).

In this newly created position, Butler will be responsible for, in Cresco's words, "demand and commercial strategic planning, bolstering Cresco Labs' sales and marketing teams with top talent, leading the launch of all new products and innovation, brand [mergers and acquisitions] and integration, and driving enterprise strategies."

Image source: Getty Images

Previous to accepting the new role, Butler was an operating partner at an affiliate of Cresco called MNML Ventures. In this capacity, says Cresco, he repositioned seven of its cannabis brands, managed the creation of a product pipeline, and was instrumental in the establishment of Cresco's Sunnyside dispensary brand.

In his career, Butler has branding and marketing experience at a range of high-profile consumer goods companies, including pharmaceutical giant Pfizer, pharmacy chain operator Walgreens Boots Alliance, and Molson Coors Brewing (NYSE: TAP).

His Molson Coors experience is particularly notable, as the brewer has been directly involved in the cannabis industry through Truss, a joint venture it has with HEXO that has developed a line of cannabis-infused beverages.

Butler's ascension marks the second time so far in 2020 that a former Molson Coors manager has accepted a high position at a marijuana company. Last month, Tilray announced that Michael Kruteck, who held a variety of high-level finance jobs at the brewer over a nine-year stint, has been hired as its CFO.

Following news of Butler's hire Thursday, Cresco's stock closed up marginally higher on the day.

Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.

And make no mistake – it is coming.

Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.

And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.

Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.

Simply click here to get the full story now.

Learn more

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends Cresco Labs Inc. and HEXO. The Motley Fool has a disclosure policy.


Popular posts

Welcome!!! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue