Jay-Z continues to make history, with the latest move at his cannabis company, The Parent Company. On Monday, the California-based company announced that they appointed Troy Datcher as the The Parent Company’s new chief executive officer. Datcher starts without delay on September 8th, marking him as the first Black CEO to lead a major public cannabis organization in the US.
Troy Datcher previously spent 20 years at The Clorox Company
Prior to this new role, Datcher spent 20 years at The Clorox Company. His last role was senior vice president and chief customer officer. Datcher also led Clorox’s worldwide sales organization.
Troy Datcher is both an incredibly influential and respected figure in the business world. He’s been featured on 100 Most Influential Blacks in Corporate America, as well as alongside Drake and Kamala Harris on Ebony’s Power 100 list.
Image via The Clorox Company
Troy Datcher will contribute to The Parent Company’s mission
Jay-Z, TPC’s chief visionary officer, has additionally made it known that social justice is a big part of their mission. Consequently, this makes Troy Datcher, who serves as an honorary executive sponsor of African-American Employee Resource Group (ABLE), a perfect fit for his new role as CEO at The Parent Company.
Datcher said in a statement earlier that The Parent Company has a “unique opportunity to disrupt a sector that has disproportionately impacted communities of color – including my own – for far too long.”
“This is a chance,” he further explains, “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.”
Together, we can shape a legal cannabis industry that is reflective of our entire culture in California and beyond.Troy Datcher
Michael Auerbach, chairman of The Parent Company, also explained the company’s excitement. “Troy brings a wealth of invaluable experience driving high-volume sales, implementing growth strategies, and a deep-seated knowledge of strategic brand execution.”
He continues further, “His leadership expertise and perspective gained at such a prominent and enduring organization will be a significant advantage as we look to build the first 100-year company in cannabis, meet evolving consumer demands, and create meaningful change in our industry.”
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.Desiree Perez, chief social equity officer at The Parent Company and CEO of Roc Nation