- Creso Pharma (CPH) has appointed leading cannabis executive John Griese as Director of U.S. business development
- The appointment follows the recent legislation in New York State legalising recreational marijuana
- John has nearly 30 years of experience and has previously worked for Creso, as well as large multinational companies such as Nestle and PepsiCo
- John will focus on New York, Vermont and other states to delineate a strategy for Creso Pharma to begin delivering products in the U.S.
- Interestingly, New York State is expected to become one of the largest recreational markets in the U.S., valued at US$4.2 billion (A$5.5 billion)
- On the market this afternoon, Creso is down 4.76 per cent and is trading at 20 cents per share
Creso Pharma (CPH) has appointed leading cannabis executive John Griese as Director of U.S. business development.
This follows the recent legislation in New York State legalising recreational marijuana.
John brings nearly 30 years of experience to Creso and has previously worked with large multinational companies such as Nestle and PepsiCo.
Additionally, he also has considerable experience in the cannabis sector through previous roles with Creso Pharma, Blooms Farms and his most recent position as Chief Operating Officer at Supreme Cannabis Company.
“We are very excited to welcome John back to Creso and Board and management are very confident that his new role will unlock a number of potential opportunities for the Company throughout the U.S,” Chairman Adam Blumenthal said.
“The recent legislative push in New York State highlights the ongoing shift towards the federal legalisation of recreational cannabis and John’s appointment shows Creso Pharma’s commitment to establishing a strong foothold in-country to unlock value for our shareholders,” he added.
John will focus on New York, Vermont and other states to delineate a strategy for Creso Pharma to begin delivering products in the U.S.
Interestingly, New York State is expected to become one of the largest recreational markets in the U.S., valued at US$4.2 billion (A$5.5 billion).
Creso’s ability to export its cannabis products into the U.S. will remain subject to the federal legislation of cannabis. According to the company, having John commence supply, sale, distribution and partnership agreements now, pending federal legalisation, will provide the company with an opportunity to be a first mover in this large market.
“Once federal legalisation occurs, Creso expects to have made inroads into the U.S. via these partnerships and agreements, which will provide speed to market and allow the company to cater to the largest consumer market of cannabis in the world in a much more seamless manner,” the company explained.
Speaking in his new role John said the North American market provides a significant opportunity for Creso Pharma.
“I look forward to working with the company to assist in growing its foothold in the U.S,” John concluded.
On the market this afternoon, Creso is down 4.76 per cent and is trading at 20 cents per share at 12:45 pm AEST.