One of the largest and most expensive cultivators, manufacturers, and retailers of cannabis products in the country, The Cannabist Co. Holdings Inc., announced the company’s board of directors has appointed David Hart, previously the company’s president and chief operating officer, as the new CEO—effectively immediately. Partaking in other leadership changes is Jesse Channon, previously the company’s chief commercial officer, as a president. The leadership shifts come at a time when the company’s former CEO, Nicholas Vita, retires; however, he will continue to serve as a director of the company.
Formerly Columbia Care, Vita founded The Cannabist Co. in 2012 and has served as its CEO since then. As the company’s first official employee, Vita has helped The Cannabist Co. grow to thousands of employees, encompass 16 fully integrated markets in the U.S., generate more than $500 million in annual revenue, go public on a senior exchange in Canada, and serve countless patients and customers with high-quality products across the national portfolio—all while under his leadership.
“The Cannabist Company would not exist as it does today without Nick and his fortitude to lead us through the peaks and valleys of running a cannabis company,” Channon said. “His passion is infused in everything we do, and we are looking forward to building on those commitments we’ve made to bring a higher experience to everyone we serve and support, both internally and externally. I am incredibly proud to be stepping into this role and to have the opportunity to further shape and define our place as a leader in the cannabis industry.”
Channon joined the company in December 2019 as chief growth officer and is an accomplished and award-winning leader with a background in developing transformative technologies and digital marketing platforms. The new president of The Cannabist Co. was a member of the founding team at PageLever, a Y Combinator-backed company. Channon oversaw all revenue and partnerships, working with companies such as YouTube, Microsoft, Intel, and Toyota to build one of the first real-time applications on Facebook’s API and earning certification in the first wave of preferred marketing developers.
Moving into the CEO position, Hart came to The Cannabist Co. in 2016, officially becoming the COO in 2018. Hart’s previous experiences include working as the chief financial officer and investment officer at Alpine Capital, a family investment office for the Ranawat Orthopedic Group at the Hospital for Special Surgery, and serving as COO of Abryx. This venture capital-backed medical device company developed, manufactured, and commercialized a portfolio of intraoperative cross-specialty hemostats.
Speaking on his decision to retire, Vita stated, “This decision to retire was not made lightly. Having been the longest-serving CEO in the history of the industry, I am grateful to my team and our employees for their years of dedication, professionalism, and tenacity. As the first employee, I have seen this company reach new heights and overcome tremendous challenges over the past 12 years. I am proud of the company we’ve built and am confident in the skilled leadership that will now steer the ship.”
“We all owe Nick a debt of gratitude for having the vision to form what is now The Cannabist Company more than a decade ago,” Hart said. “It was his passion for serving people through cannabis that brought together the best teams and partners to deliver on the promise for our patients and customers.”
Hart further stated, “The strength of the team and continued commitment to serving our communities will carry us into this next exciting chapter. We have implemented strategic organizational changes in recent quarters that have prepared us for this change. We are excited for what lies ahead and eager to continue the progress as The Cannabist Company evolves, from continuing to strengthen the balance sheet to expanding our wholesale program and driving organic growth.”
