The Baltimore Banner reports
Among the hundreds of bills heading to Gov. Wes Moore’s desk is one that could pose a potential conflict of interest: legislation outlining rules for recreational cannabis sales starting July 1.
Moore is a former board member for Green Thumb Industries, a multistate cannabis company that operates four medical cannabis dispensaries in Maryland. And as recently as last spring, the Democrat held 170,730 subordinate voting shares in the company worth $1 million, according to U.S. Securities and Exchange Commission filings. Moore left the company’s board of directors in March of 2022.
The Moore administration said the governor plans to sign the licensing and taxation bill, but did not answer if Moore still owns Green Thumb stock or if he has set up a blind trust, as he promised before election.
“Governor Moore is always focused on the best interests of Marylanders and he plans to sign this legislation with them in mind. The governor is committed to creating an adult-use cannabis market that bolsters our economy and directly benefits those that were disproportionately affected by the war on drugs,” according to a statement from Moore spokesperson, Carter Elliott IV.
The recreational cannabis billsets tax rates and outlines how cannabis revenue will be spent. It also requires medical dispensaries to pay a fee and convert their licenses to recreational dispensaries if they want to continue operating.
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Green Thumb Industries Announces Departure of Wes Moore from Board of Directors
CHICAGO and VANCOUVER, British Columbia, March 11, 2022 (GLOBE NEWSWIRE) — Green Thumb Industries Inc. (Green Thumb) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise dispensaries, today announced the resignation of Wes Moore from its board of directors. Moore joined Green Thumb’s board of directors in 2018 and served on the audit and compensation committee.
“On behalf of our entire team, I’d like to thank Wes for his many contributions to Green Thumb,” said Founder and Chief Executive Officer Ben Kovler. “As an entrepreneur, executive, combat veteran and social advocate, Wes has provided us with invaluable perspective and leadership, and we appreciate his dedication to our mission and his dedication to equity in the industry and social justice.”
Wes Moore added: “I am grateful for the opportunity to have served on Green Thumb’s board of directors and to have witnessed the growth and success of the company first-hand. I’m proud of the work we did to diversify the board and the industry as a whole. We need to ensure we have the right leaders at the table of this emerging industry, and I look forward to following their important work of promoting well-being through cannabis.”
The non-executive Green Thumb directors on the board include:
Wendy Berger, Real Estate Subject Matter Expert: Principal, WBS Equities, LLC., which specializes in ground-up construction, renovation, development, sale leaseback transactions and acquisitions.
William Gruver, Former Chief Administrative Officer of the Equities Division of Goldman Sachs, decorated Navy Veteran and experienced Audit Committee chair.
Dorri McWhorter, CEO of YMCA of Metropolitan Chicago and experienced social change executive. Serves on the boards Lifeway Foods Inc., Skyway Concession Company and William Blair Funds.
Swati Mylavarapu, Compliance Subject Matter Expert: Founder and Managing Partner, Incite.org., a hybrid incubator and investment fund.
Glen Senk, Retail Subject Matter Expert: Chairman and CEO of Front Row Partners, a retail and consumer business investment firm. Current Executive Chairman and director of Boden, director of Aritzia and former CEO and director of Urban Outfitters, Inc.
