August 24, 2021 – JM Search, a senior-level talent provider serving private equity investors, portfolio companies and Fortune 1000s, recently assisted in placing former Clorox Company executive Troy Datcher as the new chief executive officer of California-based cannabis firm The Parent Company. This represents the first time a black CEO will lead a major public U.S. cannabis organization. Current CEO Steve Allan will continue with the company and assist with the leadership transition. Consumer partners Abbee Phillips and MaryJeanne (MJ) Scott led the assignment.
“On behalf of our board and employees, I look forward to welcoming Troy to lead our organization into its next chapter of growth,” said Michael Auerbach, chairman of The Parent Company. “Troy brings a wealth of invaluable experience driving high-volume sales and implementing growth strategies and a deep-seated knowledge of strategic brand execution. His leadership, expertise and perspective gained at such a prominent and enduring organization will be a significant advantage as we look to build the first 100-year company in cannabis, meet evolving consumer demands, and create meaningful change in our industry.”
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“Troy’s business acumen, strategic thinking and leadership skills are invaluable qualities that will be critical to our organization’s growth,” said The Parent Company chief social equity officer and board member Desiree Perez. “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 taking The Parent Company to new heights.”
Mr. Datcher brings a passion for elevating diversity, equity and inclusion efforts to the forefront of corporate culture to his latest appointment. He first joined The Clorox Company in 1999 as a region sales manager for the specialty division before assuming a leadership role for the company’s automotive business. In 2006, he joined JTG/Daugherty Racing, where he spent three years as director of NASCAR sponsorship and marketing for the organization before returning to The Clorox Company in 2009. Prior to his combined 20-year tenure at The Clorox Company, Mr. Datcher served as national sales account manager at The Procter & Gamble Company.
“I’m truly honored to be at the forefront of shaping the future of the cannabis industry with The Parent Company,” said Mr. Datcher. “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.”
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Formed in January, The Parent Company is one of California’s leading vertically integrated cannabis companies. The company’s three manufacturing facilities provide access to high-quality, low-cost cannabis, while its wholesale distribution network of more than 450 California dispensaries, a direct-to-consumer omnichannel platform, three consumer delivery hubs and five omni-channel retail locations, currently service about 70 percent of the largest legal cannabis market in the country.
JM Search is an advisor to CEOs, investors and boards of directors in recruiting, assessing and delivering high performance leaders and transformational leadership teams. Its clients include private equity firms and portfolio companies, venture capital-backed businesses and publicly held companies across North America. Founded in 1980, the JM Search recruiting team brings together former operating and financial executives, investors and experienced search professionals with deep industry specialization, functional expertise and proven access to talent spanning multiple industry sectors.
Ms. Phillips leads the retail and consumer practice for JM Search, where she recruits C-level executives for retail, consumer and E-commerce businesses. She is also an integral part of the firm’s entry into the legal cannabis industry. For more than two decades, Ms. Phillips has worked with highly marketed clients to execute senior-level executive searches in merchandising, marketing, operations, and finance. She has placed executives with leading brands and retailers that include Ralph Lauren, Coach, Alberto Culver, Home Depot and AutoZone.
Ms. Scott brings over 22 years of executive search experience, working broadly across omni-channel retail, digital, consumer products, luxury home and apparel, fast fashion, home decor, leisure, health and wellness, and consumer goods manufacturing. She has led senior-level engagements including C-suite, executive and director level/general management positions. Ms. Scott has partnered with private equity firms and their portfolio companies and has extensive experience recruited within the functional disciplines of marketing, merchandising, finance, I/T, human resources, supply chain/logistics, operations and sales. She has worked with brands such as Holly Hunt, Kohler, Barney’s New York, Lifetime Fitness, Northern Tool & Equipment, Cabela’s, Target, Manhattan Toy and Room & Board.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media