The Parent Company — a publicly traded U.S. cannabis organization backed by Jay-Z — is on a mission to make the cannabis industry more diverse, inclusive and equitable.
Aligning with this, the company has hired Tiffany McBride as its new managing director of Social Equity Ventures.
Founded in January 2021, The Parent Company is California’s leading vertically integrated cannabis company. McBride’s hire comes as the company also welcomed Kerry Arnold as its chief people officer.
“This is an exciting time to join The Parent Company as the Managing Director of Social Equity Ventures to continue to ensure that minority communities have a seat at the table in the cannabis industry,” McBride said in a press release. “The Social Equity Ventures Fund and the recent opening of LA’s first Black Woman-Owned Dispensary, Josephine & Billie’s, are just some of the ways we are already making progress toward a more equitable future in cannabis.
McBride joins the company with more than 15 years of experience in strategy development, most recently serving as Docstur’s chief operations officer. She will oversee The Parent Company’s Social Equity Ventures program and help identify more minority entrepreneurs working in the cannabis sector to offer them capital and mentorship.
“While we have made strides, there is significant work to be done, and I’m looking forward to breaking down barriers and creating opportunities for diverse individuals and communities to thrive in this industry,” McBride said in a statement.
This comes a few months after The Parent Company appointed Troy Datcher to CEO, making him the first Black CEO to lead a public cannabis company in the U.S.
“As our influence as an organization grows, the appointment of Tiffany and Kerry is imperative to our mission,” said Datcher. “Tiffany’s work as Managing Director will only complement and accelerate our efforts in the equity space, while Kerry’s expertise and ability to grow an inclusive culture will be paramount. I am truly looking forward to working with them both.”