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Nancy Whiteman, the co-founder and CEO of Wana Brands cannabis edibles company, will relinquish the top post in May to focus on philanthropic endeavors.
Whiteman will be succeeded by Wana’s chief marketing officer, Joe Hodas, who’s been at the company for four years and in the cannabis industry for 12 years, according to a news release.
Whiteman to remain on Canopy USA board
An industry vanguard who established one of the largest edible brands in the industry in 2010, Whiteman will remain a board member at Canopy USA, the parent company of Colorado-headquartered Wana Brands, California-based Jetty Extracts and New York-headquartered multistate operator Acreage Holdings.
Canopy USA is an American holding company Ontario, Canada-based Canopy Growth Corp.
In 2021, Whiteman helped position Wana for a $297.5 million sale to Canopy Growth, a deal contingent on the U.S. government legalizing marijuana.
“While it is never easy for a founder to step away from the company they started, I’ve got full confidence that Joe and our Wana leadership team are well-positioned to continue Wana’s growth,” Whiteman said in a statement.
“I am looking forward to being able to devote more time to the Wana Brands Foundation.
“While we have already made almost $5 million in donations to over 150 organizations, I’m excited to learn more about the issues that the Foundation supports so we can increase our impact and be more effective in making the world a better place.”
Successor says he’s ready
Hodas said he’s prepared for the top leadership position after having worked closely with Whiteman.
“I am so honored and privileged to have been part of Wana’s history, learning from Nancy and being inculcated in her vision, and to now be tapped to take that vision into the future,” he said in a statement.
“My commitment to Nancy and to the entire Wana team is that I will always honor the legacy and integrity of our mission to enhance lives and communities with our products and our actions.”
The Wana Brands portfolio includes The Cima Group, Mountain High Products and Wana Wellness.
The company’s products are sold in more than 3,000 stores in 17 states as well as Puerto Rico and nine Canadian provinces and territories.
Wana Brands generates nearly $300 million in annual sales.
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