The leading U.S. wholesaler of branded cannabis products just leveled up its board of directors!
Cresco Labs has appointed seasoned executive Tarik Brooks to its board of directors effective immediately, Business Wire reports.
Brooks is the current President of Combs Enterprises where he is responsible for overseeing all business operations and investments owned by Sean “Diddy” Combs.
The diverse portfolio includes moves in the spirits industry through CÎROC Vodka and DeLeón Tequila, media through REVOLT TV, music through iconic label Bad Boy Records, consumer packaged goods with the AquaHydrate brand and education through the Capital Preparatory Schools.
Brooks is also responsible for new business development activity which includes the launch of “Our Fair Share,” a platform designed to help minority-owned businesses gain access to capital through the Paycheck Protection Program (PPP).
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“I’m thrilled to welcome Tarik Brooks to our board of directors. He has remarkable experience building and managing consumer brands and will be an invaluable member of our organization as cannabis continues to evolve as a consumer packaged good,” said Tom Manning, Cresco Labs Executive Chairman, in a news release.
“We’ve taken a measured approach to building our board, periodically making refreshments that add new skills and experience to the group. Tarik represents another key appointment for Cresco Labs at a critical time of growth and expansion for the company,” he adds.
Previously, Brooks worked as the Chief Operating Officer of Account Management and Trading for the world’s largest hedge fund, Bridgewater Associates.
He has also served as Executive Vice President at RLJ Companies. Here he led the development of gaming/nightlife ventures in the Caribbean through the portfolio of companies owned by investor Robert L. Johnson. Brooks also played a huge role in the completion of RLJ Kendeja, a resort hotel in Liberia.
The news of Brooks’s appointment also comes as Dominic Sergi — one of the original founders of Cresco Labs — has retired from the company’s board of directors. The change is a part of the company’s planned board refreshment process.