JAY-Z Helps Make U.S. History With 1st Black Cannabis CEO

SAN JOSE, CA – Cannabis data recently showed only 3 percent of

the United States’ market share is owned by African Americans.


JAY-Z is doing his part to change the racial status quo in

conjunction with the Parent Company, California’s leading

distributor of cannabis (including his own Monogram brand).


On Monday (August 16), the Parent Company appointed Troy

Datcher as its CEO, making him the first Black CEO of a major

public U.S. cannabis organization.


“This is a chance to partner with cultural powerhouses like JAY-Z

and Desiree Perez to rectify the wrongs of prohibition, eradicate

antiquated laws and create a new cannabis infrastructure rooted

in diversity, equity and justice for our communities,” Troy

Datcher said in a statement. “Together, we can shape a legal

cannabis industry that is reflective of our entire culture in

California and beyond.”


Roc Nation CEO Desiree Perez, who also is the Parent Company’s

Social Equity Officer, added, “Troy’s business acumen, strategic

thinking and leadership skills are invaluable qualities that will be

critical to our organization’s growth. He understands and

embraces the unique responsibility we have to redefine the

cannabis industry and establish a new precedent for cannabis

entrepreneurs to build successful businesses. I look forward to

watching him grow into this position and take the Parent

Company to new heights.”


JAY-Z will continue to serve as Chief Visionary Officer and current

Parent Company CEO Steve Allan will assist with the transition.


The Reasonable Doubt legend’s hand in the cannabis industry has

extended to nearly all his fingers since launching MONOGRAM in

October 2020.


In addition to his CVO role, he launched a nationwide onslaught

against lopsided marijuana laws from state to state, calling the

legal dilemma a “hypocrisy.” Jay Z is making sure opportunities

continue to grow.


Source: Tyshawn Smith

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