CHICAGO and VANCOUVER, British Columbia, April 30, 2019 (GLOBE NEWSWIRE) — Green Thumb Industries Inc. (GTI) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of the retail chain Rise™, today announced that William R. Gruver has joined its Board of Directors and will serve as Chair of the Audit Committee.
Gruver spent 20 years at Goldman, Sachs & Co., the international investment banking firm. In the wake of the 1987 stock market crash, he was named Chief Administrative Officer of the firm’s largest division – the equities division – which, under his leadership, reorganized and redeployed its people and capital to become one of the firm’s most profitable areas. Prior to his tenure with Goldman Sachs, he served as a qualified officer of the deck in the nuclear submarine force of the United States Navy where he was awarded several decorations.
“Bill offers incredible financial expertise for GTI as we meticulously build a world-class board with diverse skills, viewpoints and backgrounds to serve as an excellent foundation to support and propel the company’s rapid expansion,” said GTI Founder and Chief Executive Officer Ben Kovler. “The decades-long business and capital markets knowledge Bill offers will be an incredible asset to our team and he adds immense shareholder value as Chair of the Audit Committee.”
“To be a part of a nascent industry where I can make an impact is very appealing to me,” said Gruver. “I’m thrilled to join the most respected team in the cannabis space as GTI continues to grow and evolve within this ever-changing landscape. GTI’s value system, its economic revitalization and job creation in underserved areas, and emphasis on community service are all important factors in my decision to join the board. I’m also optimistic about cannabis’ potential role in curbing the opioid epidemic.”
Gruver currently serves on two audit committees – Geisinger Health, a $7 billion integrated health care system in Pa. and N.J., where he chairs the Audit Committee, and Private Client Bank, a multi-billion dollar Swiss institution. He was a member of the Audit Committee and served as chair of the Compensation Committee for TheStreet, Inc., a leading financial news and information company, where he was a director from October 2003 to June 2013. He served as Audit Committee Chair for Berea College, the first interracial and coeducational college in the South, from 1996 to 2008. He is also a national arbitrator of the Financial Industry Regulatory Authority.
Gruver now holds the Howard I. Scott Chair in Global Commerce, Strategy and Leadership at Bucknell University. He has received the Lindback Award for distinguished teaching and the ECAC Award for his contributions to inter-collegiate athletics at Bucknell. His thinking and writing has been widely published in outlets such as the Financial Times, the Los Angeles Times, the New York Times, the New Republic, Finanz und Wirtschaft, Public Radio International, as well as several academic journals. Gruver received his AB with distinction from Dartmouth College and his MBA from Columbia University.
Gruver joins the following non-executive GTI directors on the board:
Wendy Berger, Real Estate Subject Matter Expert: Principal, WBS Equities, LLC., which specializes in ground-up construction, renovation, development, sale lease back transactions and acquisitions.
Wes Moore, Social Impact Subject Matter Expert: CEO of Robinhood, New York’s largest poverty-fighting organization, and decorated Army combat veteran.
Glen Senk, Retail Subject Matter Expert: Former CEO and board director for Urban Outfitters and director of Aritzia, Boden, Kendra Scott and Opening Ceremony.
About Green Thumb Industries:
Green Thumb Industries (GTI), a national cannabis consumer packaged goods company and retailer, is dedicated to providing dignified access to safe and effective cannabis while giving back to the communities in which they serve. GTI manufactures and distributes a portfolio of branded cannabis products including Rythm, Dogwalkers, The Feel Collection, and Beboe, among others. The company also owns and operates a rapidly growing national chain of retail cannabis stores called Rise™. Headquartered in Chicago, Illinois, GTI has 11 manufacturi ng facilities, licenses for 77 retail locations and operations across 12 U.S. markets. Established in 2014, GTI employs approximately 650 people and serves thousands of patients and customers each year. GTI was named a Best Workplace 2018 by Crain’s Chicago Business. More information is available at GTIgrows.com.
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