Jay-Z's Parent Company Names First Black CEO Of Major U.S. Cannabis Company


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Shawn "Jay-Z" Carter and The Parent Company has appointed Troy Datcher as the next CEO of its innovative cannabis operation. Datcher's predecessor, Steve Allan, will assist Datcher with his transition as he moves into a different role with the company.

Datcher will not only have the opportunity to lead an innovative organization, but he will also make history. With this promotion, Datcher becomes the first Black CEO of a major public cannabis organization in the United States.

“I’m truly honored to be at the forefront of shaping the future of the cannabis industry with The Parent Company,” Datcher said in a press release.

“This is a tremendously strong company that is poised for continued growth and we have a unique opportunity to disrupt a sector that has disproportionately impacted communities of color – including my own – for far too long. This is a chance to partner with cultural powerhouses like JAY-Z and Desiree Perez to rectify the wrongs of prohibition, eradicate antiquated laws and create a new cannabis infrastructure rooted in diversity, equity and justice for our communities. Together, we can shape a legal cannabis industry that is reflective of our entire culture in California and beyond.”

Prior to working at the Parent Company, Datcher served as the senior vice president and chief customer officer of The Clorox Company. He has also worked at the JTG/Daugherty Racing and The Procter & Gamble Company. Not to mention, he's served as a trustee at Gettysburg College and earned a spot on EBONY Magazine's Power 100 list twice.

“Troy’s business acumen, strategic thinking and leadership skills are invaluable qualities that will be critical to our organization’s growth,” The Parent Company's Chief Social Equity Officer Desiree Perez said.

“He understands and embraces the unique responsibility we have to redefine the cannabis industry and establish a new precedent for cannabis entrepreneurs to build successful businesses. I look forward to watching him grow into this position and take The Parent Company to new heights.”

Datcher will officially assume the role of CEO on September 8.

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