Michael Serruya has been appointed interim CEO and board chair of MedMen Enterprises, the California-based cannabis multistate operator announced Monday.
His appointment marks the company’s third CEO in less than two years.
According to a news release, Lynch will continue his role as manager of MedMen Boston and MME Newton Retail.
He said in the release that MedMen is “now in growth mode” and predicted that Serruya will be able to “achieve company-wide profitability in 2022.”
Serruya is described in the release as a “seasoned cannabis investor with extensive retail experience,” including a former role as CEO of Coolbrands and Kahala Brands. Those non-marijuana businesses have portfolios that include mainstream brands such as Weight Watchers, Tropicana, Blimpie Subs and several ice cream companies.
He joined MedMen’s board of directors in August as part of a $100 million investment deal by Serruya Private Equity.
Grow better: MJBizDaily Greenhouse Components Buyers Guide
Maximize your output and quality with the right equipment. Curated by the editors of MJBizDaily, our new, free Greenhouse Components Buyers Guide helps you choose wisely and covers irrigation, automation and ROI.
- Cannabis greenhouse buyers checklist
Keep track of everything you need.
- Pros and cons of common benching systems
Help weigh out the best choice for your greenhouse benching system with this overview.
- Cannabis greenhouse Glossary of Terms
What is evaportranspiration? Download the guide to find out and learn more technical jargon unique to greenhouse and the cannabis industry.
Serruya said in the release that his focus will be on plans to expand MedMen “across the United States, Canada and internationally.”