Managing the finances of a publicly-traded cannabis company is no easy task, so it helps to have someone with serious experience at the helm in the CFO position. That’s why TILT Holdings Inc. (CSE:TILT) (OTC:SVVTF) just announced the appointment of David Caloia as Chief Financial Officer, effective Monday, January 7th, 2019. This announcement comes just one day after TILT announced the acquisition of Jupiter Research, a leading inhalation and vaporization technology company.
As a diversified, multinational infrastructure and technology-focused cannabis company, TILT Holdings will benefit from Caloia’s very accomplished background in finance, having spent the first 16 years of his career at General Electric Company (NYSE:GE) in finance and operations.
While at GE, he maintained leadership positions in finance across the globe, the last as the CFO of GE Industrial Solutions, a $3 billion dollar global business with 15,000 employees worldwide. Just prior to joining TILT, David was the Senior Vice President, Financial Planning & Analysis of Beacon Health Options, a multi-billion healthcare company owned by Bain Capital and Diamond Castle.
Starting Monday, Caloia will be based at TILT’s headquarters in Cambridge, Massachusetts, and will oversee all of the company’s financial activities and strategic positioning in the market. Caloia commented:
“I’m looking forward to bringing my finance and operational expertise into the rapidly growing cannabis industry and adding immediate value to the TILT team. TILT sets the industry standard as the go-to technology and infrastructure platform that can support the rapid growth of the cannabis industry and I’m excited to see what we do next.”
Beyond Caloia and Kadonoff, we expect even more former GE executives to come to the cannabis industry in search of employment. After all, some investors are calling GE “uninvestable,” while the ETFMG Alternative Harvest ETF (NYSE:MJ) is up >5% year-to-date.
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