LOS ANGELES--(BUSINESS WIRE)--MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQX: MMNFF), a premier cannabis retailer with operations across the United States, today announced its Board of Directors has appointed Michael Serruya as Chairman and Interim CEO, effective immediately. Serruya succeeds outgoing Chairman and CEO Tom Lynch, who held the position since 2020 and oversaw the Company’s operational turnaround.
“We want to thank Tom for his leadership over the past 20 months as he’s led a successful and disciplined turnaround plan, which has left us well positioned for accelerated growth as MedMen 2.0”
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Serruya joined MedMen’s board in August 2021 as part of a $100 million investment in the Company by Serruya Private Equity to expand its operations in key markets and identify and accelerate further growth opportunities across the United States. This, together with Tilray, Inc.’s acquisition of the majority of the outstanding senior secured convertible notes of MedMen that were originally held by certain funds affiliated with Gotham Green Partners, LLC, provides MedMen with the flexibility to execute on its growth priorities and explore additional strategic opportunities.
Serruya is a seasoned cannabis investor with extensive retail expertise, having previously served as CEO of Coolbrands (then home to CPG brands including Weight Watchers, Eskimo Pie, Tropicana and Godiva Ice Cream) and Kahala Brands (home to global QSR brands including...
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