Cresco Labs Inc. announced the appointment of well-known business leader Carol Vallone to its board of directors. Cresco has appointed Carol Vallone to its board of directors, effective immediately. The Company announced that Brian McCormack, Vice Chairman of the board, has retired from the Company’s board of directors as part of the planned board refreshment process. A serial entrepreneur, Mr. McCormack was a founder and one of the early investors in the company and led the initial development of the board. He was instrumental in helping create the business and in recruiting initial shareholders to the Company. Ms. Vallone is a well-known business leader, former CEO, and corporate board director, with a strong track record in launching, scaling, and managing global companies. Currently, Ms. Vallone serves as Chair of the Board of Trustees at McLean Hospital, the #1 ranked freestanding psychiatric hospital and largest psychiatric affiliate of Harvard Medical School. She also serves on the board of trustees at MGH Institute of Health Professions, and on the finance committee at Mass General Brigham. Additionally, Ms. Vallone serves on the board of directors of the Bain Capital Double Impact portfolio company, Arosa; as an Advisory Director for the private investment firm Berkshire Partners; and as an Advisory Board Member of the healthcare-focused venture growth firm, Longitude Capital. In the past, Ms. Vallone served as President and Chief Executive Officer of leading E-learning companies including WebCT Inc., where she grew the online learning company to cover almost two thousand institutions in seventy countries. She has also served on multiple boards at leading non-profit healthcare, public financial services, and e-commerce organizations. In joining the Cresco Labs board of directors, Ms. Vallone will become the second female member of the board and will serve alongside Michele Roberts, the Executive Director of the NBA Players Association, who was elected in April.
Cresco Labs Inc. is an integrated multi-state cannabis operator in the United States. The Company is licensed to cultivate, manufacture, and sell retail and medical cannabis products primarily through Sunnyside, Cresco Labsâ national dispensary brand, and third-party retail stores. Its family brands include Cresco, High Supply, Good News, Wonder Wellness Co., FloraCal Farms, Remedi and Mindyâs. Its portfolio consists of over 400 products. The Company's products are sold in over 1,600 dispensaries across the country. Its Cresco offers consistent strains, available in a variety of product forms at dispensaries and retail locations nationwide. Its High Supply lab-tested; and available in vape carts, vape pens, flower, popcorn, shake, shorties and concentrates. Its Remedi products provide a consistent and trusted alternative to traditional pharmaceuticals like opioids. Its Mindyâs offers dosed edibles created by James Beard. It is the wholesaler of branded cannabis products.