Management changes in the marijuana industry are always important, especially for those companies that are always looking to be at the top of their game. One of the most recent to make such moves was Greenlane Holdings, a global branding company and one of the largest sellers of premium marijuana. The company recently announced leadership changes and plans in an effort to accelerate its path to profitability and capitalize the business.
One of the ongoing cost-cutting initiatives to put gas in the pedal toward profitability was a reduction in staff. The completion of this process is expected to result in $8 million in annualized cash compensation cost savings. These staff reductions spanned a broad spectrum of divisions, both in-country and offshore.
The leadership team also received some modifications. After engaging in several discussions with Adam Schoenfeld, the company reached a mutual agreement for Schoenfeld to resign as CMO effective March 31, 2022.
Schoenfeld’s roles are co-founder and board member. Since his early days, he has played a large role in helping Greenlane find the path to a thriving private company through its historic IPO in 2019 and before its transformative merger with KushCo in August of last year.
For the time being, the company has made it clear that it will not be looking to fill the vacant chief marketing officer position. Schoenfeld will still serve on the company’s board of directors.
For the position of CMO, the company has sought Craig Snyder, who will start in the role on March 28. Snyder is known as an experienced leader with more than two decades of success driving the development and growth of emerging and advanced technology organizations.
Snyder’s day-to-day responsibilities will now focus on managing the commercial side of the company’s business. These range from strengthening their sales initiatives to developing its go-to-market strategies.