Joe Caltabiano, a co-founder of Chicago-based marijuana multistate operator Cresco Labs, resigned from the board of directors.
Caltabiano, who co-founded Cresco in 2013 with CEO Charlie Bachtell, told the Chicago Tribune that he’s looking into “other opportunities” in the cannabis industry and didn’t see a path forward while still remaining on the company’s board.
Caltabiano will keep his status as one of Cresco’s largest shareholders, with roughly 17 million shares, or 5% of the company.
Cresco trades on the Canadian Securities Exchange as CL.