skip to Main Content
Caltabiano resigns from Cresco board of directors


Chicago (June 5, 2020)–Cresco Labs co-founder Joe Caltabiano has resigned from the company’s board of directors effective immediately. He previously had left his executive role as president at the company in March but had remained on the board until now.

“As a co-founder of Cresco, I’ll admit it’s difficult to leave after watching Cresco Labs grow to one of the more successful Cannabis companies in the United States,” Caltabiano said. “But I feel good knowing the board is in a good position to push the vision forward, especially as cannabis use increases and this essential industry expands.”

Caltabiano co-founded the Chicago-based multi-state operator in 2013 and led it as president until stepping down this year.

His resignation from both posts at Cresco Labs comes after he led the company to top market-share positions throughout the U.S. during his time there. He also boosted Cresco’s market penetration, sales velocity and brand awareness. And he was integrally involved with the company’s development of more than a million square feet of real estate, the design and opening of numerous retail locations, public and private capital campaigns and new market acquisitions. He also helped Cresco launch the Sunnyside national retail brand, and multiple M&A transactions.

As a leukemia survivor, Caltabiano helped drive numerous Cresco philanthropic and educational initiatives focused on the fight against cancer. Before founding Cresco Labs, Caltabiano worked in the highly regulated banking industry for 15 years, where he closed more than $2.5 billion in debt transactions.

“This is a challenging time for the cannabis industry, but it’s also an exciting one,” Caltabiano noted. “I’m grateful for all I’ve learned while at Cresco, and I look forward to their continued success as all of us strive to make the industry better for businesses and consumers.”

For more information or to schedule an interview with Caltabiano, please contact Shawna Seldon McGregor at 917-971-7852 or[email protected].


This Post Has 0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Stories

What Must Be Done To Enact Germany’s New Cannabis Law And What Will Its Adult-Use Market Look Like?

With Germany’s Government-in-waiting set to deliver adult-use cannabis, BusinessCann explores the delivery challenges and how the legislation may be shaped. BACK in 2015 the German Green Party published its Cannabis Control Act (CCA). Although it made no progress in the Bundestag at the time, it is now emerging as the blueprint for the creation of…

ESG and Cannabis is No Easy Task Right Now

by Hilary Bricken, Principal Harris Bricken Socially responsible and “sustainable” investing is picking up in popularity across retail and institutional investors alike. According to Wikipedia, “[i]n less than 20 years, the ESG movement has grown from a corporate social responsibility initiative launched by the United Nations into a global phenomenon representing more than US$30 trillion…

Who Needs a License? New York Weed Dispensaries Are Already Opening

Stores that offer recreational marijuana might not be entirely legal yet, but entrepreneurs are ready to start righting the wrongs of the war on drugs list prices, per se, but “Suggested Donations,” starting at $20. The packages offered in return are thank you “gifts.” “We don’t sell anything,” says one register operator at Uncle Budd’s…

Germany’s incoming government unveils plans to legalize cannabis

Three German political parties have sealed a deal for a new government, with left-leaning Olaf Scholz the proposed next chancellor following lengthy coalition negotiations and a historic election that sees Angela Merkel stepping down after 16 years at the helm. The incoming government’s vision for Germany includes plans to legalize cannabis. It also aims to…

More Categories

Back To Top
×Close search