– USA, IL – Cresco Labs (CSE: CL | OTC: CRLBF), one of the largest vertically integrated multistate cannabis operators in the United States, today announced the appointment of Carol Vallone to its Board of Directors. Ms. Vallone is a well-known business leader, former CEO, and corporate board director, with a strong track record in launching, scaling and managing global companies.
The Company also announced that Brian McCormack, Vice Chairman of the board, has retired from the board of directors as part of the planned board refreshment process.
“Brian has served on the Cresco board since the Company was founded and has played an integral role in the Company’s early development,” said Charles Bachtell, CEO and Co-Founder of Cresco Labs. “I would like to thank him for his foresight in recommending that we implement a board refreshment plan to ensure we have a diverse set of experiences, skills, and ideas to help guide Cresco into the future.”
Tom Manning, Executive Chairman, added, “I also want to recognize Brian for his early contributions and his vision. While we will miss him, I’m thrilled to welcome a powerful new voice, Carol Vallone, to the board. Carol has proven her ability to launch and scale global companies both as an executive and a board member, and her experience and passion for corporate governance are a tremendous fit for Cresco in its next phase of growth.”
About Carol Vallone
Currently, Ms. Vallone serves as Chair of the Board of Trustees at McLean Hospital, the #1 ranked freestanding psychiatric hospital and the largest psychiatric affiliate of Harvard Medical School. She also serves on the board of trustees at MGH Institute of Health Professions, and on the finance committee at Mass General Brigham. Additionally, Ms. Vallone serves on the board of directors of the Bain Capital Double Impact portfolio company, Arosa; as an Advisory Director for the private investment firm Berkshire Partners; and as an Advisory Board Member of the healthcare-focused venture growth firm, Longitude Capital.
In the past, Ms. Vallone served as President and CEO of leading E-learning companies including WebCT Inc., where she grew the online learning company to cover almost two thousand institutions in seventy countries. She has also served on multiple boards at leading non-profit healthcare, public financial services, and e-commerce organizations.
In joining the Cresco Labs board of directors, Ms. Vallone will become the second female member of the board and will serve alongside Michele Roberts, the Executive Director of the NBA Players Association, who was elected in April.
About Cresco Labs
Cresco Labs is one of the largest vertically-integrated multi-state cannabis operators in the United States. Cresco is built to become the most important company in the cannabis industry by combining the most strategic geographic footprint with one of the leading distribution platforms in North America. Employing a consumer-packaged goods approach to cannabis, Cresco’s house of brands is designed to meet the needs of all consumer segments and includes some of the most recognized and trusted national brands including Cresco, Remedi and Mindy’s, a line of edibles created by James Beard Award-winning chef Mindy Segal. Sunnyside*, Cresco’s national dispensary brand, is a wellness-focused retailer designed to build trust, education and convenience for both existing and new cannabis consumers. Recognizing that the cannabis industry is poised to become one of the leading job creators in the country, Cresco has launched the industry’s first national comprehensive Social Equity and Educational Development initiative designed to ensure that all members of society have the skills, knowledge and opportunity to work in and own businesses in the cannabis industry.
For more information: https://www.crescolabs.com
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