CHICAGO–(BUSINESS WIRE)– Cresco Labs Inc. ("Cresco Labs" or the "Company") (CSE: CL) (OTCQX: CRLBF), one of the largest vertically integrated multi-state cannabis operators in the United States, today announced that Mo Dastagir has joined the Company as its new Chief Information Officer.
Mr. Dastagir succeeds Zach Marburger, who is taking on a new role at Cresco as Entrepreneur in Residence. As CIO, Mr. Dastagir will be responsible for overseeing the technological infrastructure throughout Cresco and designing, scaling and implementing technological systems and platforms to optimize the customer experience.
Mr. Dastagir joins Cresco from Sears Holding Corporation, where he served as Vice President and Chief Technology Officer with responsibilities for managing all technology programs designed to drive growth and improve profitability in the Sears Home Services (SHS) Business.
During his tenure, the highly profitable SHS business made several technology investments to intensify its focus on providing a best-in-class and differentiated experience in the Home Appliance Repair and Home Services category. Prior to Sears, Mr. Dastagir spent eight years in Switzerland working at Novartis Pharmaceuticals and Roche Pharmaceuticals as part of a strategic team leading technology transformations in highly regulated portfolios such as Diabetes Care and Pharma Drug Development.
As part of the Diabetes Care IT leadership team, he was responsible for the digitization of the Diabetes Care portfolio into a remote care management powerhouse. Prior to Switzerland, Mo spent time in India and was one of the first five employees at Amazon Hyderabad and helped lay the foundation for what has turned into Amazon.com's India operations today. He was part of the leadership team responsible for setting up a new technology operations center in India and moving functions from various locations in the United States to the new facility.
"We continue to attract top-tier talent across a variety of disciplines, and Mo Dastagir is the latest example," said Cresco Labs CEO & Co-Founder Charlie Bachtell. "Mo has a long track record of successfully scaling and implementing a diverse array of major technology programs for Fortune 500 companies and will ensure that Cresco's technology infrastructure and capabilities remain on the leading edge of the cannabis industry."
"His experience and expertise in managing the technology needs of growing companies entering and integrating new markets will be extremely valuable to Cresco as we continue to build our footprint and deepen our presence in the most attractive cannabis markets in North America."
"We are very excited about Zach's transition to a new role at Cresco," added Mr. Bachtell.
"Zach was one of our first employees and a key member of our executive team, and his work as CIO was critical to the early stages of our development. Zach is a cannabis industry veteran with a broad skill set who will now be responsible for leading a wide array of business initiatives including working with communities and entrepreneurs to help drive employment and business ownership opportunities through our pioneering social equity and educational development (SEED) program."
About Cresco Labs
Cresco Labs, based in Chicago, is a leading U.S. cannabis company with experienced management, access to capital and a demonstrated growth strategy. As a differentiated grower, processor and retailer of premium cannabis operating across the United States, the company focuses on entering highly regulated markets with outsized demand potential and strong regulatory structures.
Its impressive speed-to-market gives Cresco a distinct competitive advantage as it replicates its model to expand its national footprint. Cresco's proven ability to execute is complemented by a cutting-edge brand strategy spearheaded by several of the brightest minds in consumer marketing in the nation.
Cresco's products are tailored to all major consumer segments: everyday cannabis, medicinally focused, connoisseur grade, and chef inspired edibles by James Beard Award-winning pastry chef Mindy Segal. Learn more about Cresco Labs at www.crescolabs.com.
Forward Looking Statements
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as, 'may,' 'will,' 'should,' 'could,' 'would,' 'expects,' 'plans,' 'anticipates,' 'believes,' 'estimates,' 'projects,' 'predicts,' 'potential' or 'continue' or the negative of those forms or other comparable terms. The Company's forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to those risks discussed under "Risk Factors" in the company's CSE Listing Statement filed with SEDAR; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Because of these uncertainties, you should not place undue reliance on the Company's forward-looking statements. No assurances are given as to the future trading price or trading volumes of Cresco's shares, nor as to the Company's financial performance in future financial periods. The Company does not intend to update any of these factors or to publicly announce the result of any revisions to any of the Company's forward-looking statements contained herein, whether as a result of new information, any future event or otherwise. Except as otherwise indicated, this press release speaks as of the date hereof. The distribution of this press release does not imply that there has been no change in the affairs of the Company after the date hereof or create any duty or commitment to update or supplement any information provided in this press release or otherwise.