MedMen appoints ex-Apple Retail Veteran as new CFO
Clarice Gomes23 Jun 2min read
Michael Kramer Appointed CFO of MedMen (Photo: Business Wire)
LOS ANGELES–(BUSINESS WIRE)–MedMen Enterprises Inc. ("MedMen" or the "Company") (CSE: MMEN) (OTCQX: MMNFF) (FSE: A2JM6N) announced today the hiring of Michael W. Kramer, a veteran finance executive with a proven track record at retailers such as Apple Inc., Abercrombie & Fitch and Forever 21, as Chief Financial Officer.
"Michael's extensive financial and operational experience in retail and tech, and his success in scaling high-growth businesses will be instrumental as MedMen moves to operationalize the balance of our footprint," said Adam Bierman, MedMen co-founder and chief executive. "His appointment underscores our commitment to investing in a strong management team with a track record of execution. Our industry and business continue to evolve, and it is paramount that we have the right talent to execute at each stage of our growth."
Kramer's three decades of experience include serving as chief financial officer of Apple Retail, where he developed successful brick and mortar retail strategies. He also oversaw 12 quarters of increased year-over-year earnings for Abercrombie & Fitch.
"I look forward to working with MedMen's talented team to advance its growth plan," Kramer said. "We will remain focused on execution, on maintaining a strong balance sheet, and moving toward profitability."
Kramer has been on advisory boards for organizations such as Martha Stewart Living Omnimedia, the Wharton School of Business at the University of Pennsylvania, and Kansas State University's Business School. He will report to CEO Adam Bierman, and will oversee Accounting, Financial Planning and Analysis, Financial Reporting, Investor Relations, Internal Audit, Payroll, Procurement, SEDAR Reporting, Tax and Treasury, among other functions. Interim CFO Jim Miller will return to his previous role as the company's vice president of accounting. Kramer's appointment is effective December 10.
Kramer's hiring follows a number of key executive hires in recent months, including:
Chief Operating Officer Ben Cook, an accomplished global supply chain executive with brands such as Apple and Sam's Club.
Chief Marketing Officer David H. Dancer, a veteran marketing executive with more than 25 years of experience leading brands such as Teleflora, Charles Schwab, Visa and American Express.
Senior Vice President of Human Resources Clarence Foster with 20 years of experience leading companies in manufacturing, automotive and consumer products for companies such as Nissan Motors and L'OREAL.
Chief Digital Officer Mike Lane with two decades of experience leading design and development of digital customer experiences at brands like Live Nation, Ticketmaster, FOX Broadcasting and Adobe.
MedMen Enterprises is a leading cannabis company in the U.S. with assets and operations nationwide. Based in Los Angeles, MedMen brings expertise and capital to the cannabis industry and is one of the nation's largest financial supporters of progressive marijuana laws. Visit http://www.medmen.com.
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