On Monday, JAY-Z-backed cannabis company, The Parent Company, announced Troy Datcher as CEO.
Datcher’s new post marks the first time a Black CEO would oversee a large, publicly-traded cannabis company in the United States.
Datcher comes to The Parent Company after a 20-year career at The Clorox Company, where he most recently served as senior vice president and chief customer officer. He also previously led the company’s global sales department.
As California’s top vertically integrated cannabis company, The Parent Company offers a product portfolio that includes, among other things, JAY-Z’s brand Monogram. JAY-Z also serves as the company’s chief visionary officer and oversees a social equity ventures effort aimed at breaking down the industry’s systemic hurdles to Black and other minority entrepreneurs.
Datcher told Insider, The Parent Company has 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,” Datcher said. “Together, we can shape a legal cannabis industry that is reflective of our entire culture in California and beyond.”
