Cresco Labs' President Resigns
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Joe Caltabiano today announced his resignation as president of Cresco Labs. He intends to continue his role on Cresco’s board of directors.
“As the founder who brought the initial idea of entering into the regulated cannabis industry to the original Cresco team in 2013, this day is bittersweet,” Caltabiano noted.
“Starting Cresco, and watching it grow to become one of the most important cannabis companies in the industry has been a dream come true. However, as a serial entrepreneur, I know it’s time for the next challenge. I leave the company in a great position to further our original mission.”
During his tenure as president, Caltabiano helped the company gain access to the most important cannabis markets in the country, build leading market share positions in multiple states, launch and roll out the Sunnyside national retail brand across its retail fleet, sourced multiple transactions and developed more than a million square feet of cultivation space.
He also led the company through various strategic initiatives, sale/leaseback transactions, and numerous capital raises ranging from the first funding round to the RTO process all that have helped Cresco build [a] valuable and strategic geographical footprint in the cannabis industry.
“With all that Cresco has been able to accomplish in a very short time, personally I am most proud of the team members I have worked with side-by-side, watching them grow to become the future of Cresco Labs,” Caltabiano continued.
“It’s incredible to look at what the company accomplished since it was founded. We built world class facilities, developed an industry-leading house of brands, and created a professional organization that will enable us to continue to execute our growth strategy and drive long-term shareholder value.”
In 2013, Caltabiano co-founded Cresco Labs, now one of the country’s leading multi-state operators. Caltabiano brought to the cannabis industry more than a decade of finance experience as one of the top mortgage professionals in the country. He is also a leukemia survivor who is committed to supporting organizations and efforts that help patients in their fight against cancer. Caltabiano has significant expertise working in the highly regulated industries including cannabis and finance.
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