The cannabis company MedMen Enterprises Inc (CSE:MMEN) (OTCQX:MMNFF) has tapped Michael Kramer, a long-time finance executive with considerable experience running retail companies, as its new chief financial officer.
Kramer joins MedMen after serving as chief financial officer of Apple Retail, where he developed successful brick and mortar retail strategies. He also oversaw 12 quarters of increased year-over-year earnings for Abercrombie & Fitch Co (NYSE:ANF) while in the same role.
“I look forward to working with MedMen’s talented team to advance its growth plan,” Kramer said in a statement. “We will remain focused on execution, on maintaining a strong balance sheet, and moving toward profitability.”
Kramer’s hiring comes as part of a recruitment drive by the Los Angeles-based MedMen. In recent months, the cannabis company has brought on its chief operating officer Ben Cook, chief marketing officer David Dancer, its senior vice-president of human resources Clarence Foster and its chief digital officer Mike Lane.
Earlier this week, MedMen completed its acquisition of Omaha Management Services LLC, one of the top medical marijuana operators in Arizona and the owner of Monarch, the Arizona dispensary and processor of medical cannabis.
MedMen is a leading cannabis company in the US, with assets and operations across the country.
MedMen shares slipped 1.3% to US$3.11 before the opening bell on Thursday.
Contact Ellen Kelleher at [email protected]