Cannabis firm the Parent Co., whose brands include “Jay-Z” Carter’s Monogram line, has picked a CEO and its a top executive at Clorox Co.
The company has named Troy Datcher as CEO, who plans to join Parent on September 8th, according to a company statement on Monday.
Bloomberg has also confirmed the news.
Datcher has been with the Clorox company for nearly 20 years and most recently was the chief customer officer. He has been an influential Black leader in corporate America and has made the Ebony Power 100 list.
Datcher’s “leadership, expertise and perspective gained at such a prominent and enduring organization will be a significant advantage as we look to build” a strong cannabis brand, Michael Auerbach, Parent’s chairman, stated.
Current CEO Steve Allan will remain with the company and assist in the transition.
“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.
“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.”
Clorox said in a separate statement that Datcher “has made significant contributions to Clorox during his nearly 20 years with us, and we wish him all the best in his next chapter.”
“I’m truly honored to be at the forefront of shaping the future of the cannabis industry with The Parent Company,” said 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.”
