Cresco Labs co-founder cuts official ties with cannabis MSO

Joe Caltabiano, a co-founder of Chicago-based marijuana multistate operator Cresco Labs, resigned from the board of directors.

His departure from the board completes Caltabiano’s exit from Cresco after his resignation as company president in March.

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.