Top MedMen execs quit amidst continuing legal battles, claims of financial impropriety
According to a report from CNBC, MedMen (MMNFF) Chief Operating Officer Ben Cook and General Counsel and board member Lisa Sergi Trager have resigned from the company amidst what’s being reported as a “broader employee shakeup.” Unidentified sources tell CNBC that Senior Vice President of Corporate Communications Daniel Yi also resigned.
Although MedMen released a statement saying the moves were part of a general executive management update, while announcing Ryan Lissack as their Chief Technology Officer, CNBC writes that the moves come “amid [the] ex-CFO’s claims of financial duress.”
The article, however, makes a tenuous connection between the recent slate of employee exits and the latest troubles over at MedMen. The company’s former chief financial officer, James Parker, recently filed a lawsuit claiming wrongful dismissal.
Parker alleged a culture of racism and misogyny at MedMen, writing in his complaint that the company and its employees created an environment “replete with racial, homophobic and misogynistic epithets and slurs, drug, and alcohol abuse, personal humiliation occasioned by the words and deeds of the CEO and President of the company [and] profligate spending by both the CEO and President.”
MedMen has since denied those allegations. In a statement released by MedMen on Friday, the company praised the exiting employees.
“We appreciate the contributions of all current and former MedMen team members as we work to build the world’s leading cannabis company, and I have the utmost confidence in the management team. Their expertise, skill set, and experience sets the standard of excellence for the industry,” said Adam Bierman, MedMen CEO.