Leading consumer cannabis provider Curaleaf of Wakefield, MA has appointed Matt Darin as its new chief executive officer.
Darin brings to Curaleaf his leadership skills and a history of innovation as an experienced presence in the cannabis industry. As a founder of Chicago’s Grassroots, Darin was the first to break ground in some of the nation’s top cannabis markets. Grassroots was the largest private vertically integrated multi-state cannabis operator in the U.S. before its acquisition by Curaleaf in 2020.
Since joining Curaleaf’s team in 2020, Darin has led the company’s Central region — its biggest footprint in the U.S. In 2021 he added the Southeast region to his responsibilities, helping increase Curaleaf’s market share by 55%. Curaleaf is the nation’s largest retail dispensary brand, as well as a producer of premium cannabis products. Curaleaf International is Europe’s most prominent vertically integrated cannabis company, with a unique supply and distribution network throughout the European market.
“Matt has been an essential leader in our day-to-day operations, commercialization strategy and in streamlining our reporting structure and decision-making process, said Curaleaf’s executive chairman, Boris Jordan. “He’s excelled in every role since joining Curaleaf, and I am highly confident in his vision and abilities to lead the company in its next phase of growth.”
Getting ready to wrap things up
Current CEO Joe Bayern will launch and run a new division of Curaleaf developing a consumer packaged goods-based business model. Curaleaf sees expansion in the CPG market as profitable new ground for cannabis.
“The Board and I are all incredibly grateful for Joe’s accomplishments during his tenure as CEO. He brought us into a new way of working and thinking strategically as a CPG company,” said Jordan. “His experience as a brand builder and CPG leader will be instrumental for our new venture at a time when the opportunities in the marketplace are only just being realized.”
The announcement of Darin’s move to CEO was made in conjunction with the company’s quarterly earnings call. Curaleaf reported first quarter revenue with year-over-year revenue growth of 20% to $313 million, and year-over-year adjusted EBITDA growth of 16% to $73 million with operating cash flow of $57 million. In the United States, Curaleaf currently operates in 22 states with 131 dispensaries, 26 cultivation sites and employs over 5,700 people.
“I firmly believe we are building the best team in cannabis and I’m energized and humbled to lead Curaleaf at this pivotal moment,” said Darin. “We’ve built the foundation to continue to be the industry leader for the long term with a focus on operational excellence in every aspect of our business.”
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