Curaleaf Hires a New Retail Chief

Curaleaf Holdings (OTC: CURLF) has replaced one of its key executives. The company announced Thursday that it has named Talley Wettlaufer to the position of senior vice president of retail -- essentially the top manager of the company's growing retail network. The appointment is effective immediately.

Wettlaufer succeeds Chris Melillo, who has parted ways with the company. Curaleaf did not supply a reason or reasons for his departure. 

Marijuana leaf with sun shining behind it.

Image source: Getty Images.

The company's new retail chief is one of the rare cannabis industry executives with experience working at a high executive level for a different company in the business. She was formerly head of retail at Grassroots, the privately held operator that in July was finally acquired by Curaleaf more than one year after the two companies formally agreed to combine.

A longtime retail industry veteran, Wettlaufer has worked in numerous capacities for such familiar consumer-facing companies as Abercrombie & Fitch, Petco, and J. Crew.

In its press release touting her appointment, Curaleaf quoted Wettlaufer as saying, "I look forward to creating exceptional experiences for all our patients and customers, increasing the visibility and preference for our brands, and enhancing the community connections of our local Curaleaf retail dispensaries."

With the absorption of Grassroots, the company says it is now the largest marijuana company in the world in terms of revenue. It also claims to be the most diversified, vertically integrated cannabis operator in this country. All told, it manages 93 dispensaries across 23 states serving medical and/or recreational marijuana.

Marijuana stock investors generally like when a seasoned executive with experience at familiar companies in more traditional sectors rises in the marijuana business. Curaleaf's stock rose by 0.3% on Thursday, in contrast to the pronounced decline of the broader stock market.

Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.

And make no mistake – it is coming.

Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.

And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.

Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.

Simply click here to get the full story now.

Learn more

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

The Motley Fool

Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

Learn More