The Parent Company has a new CEO. Last Thursday, Desiree Perez, along with her Partner Jay-Z, announced Troy Datcher as the new CEO of The Parent Company. Datcher boasts an impressive resume, having spent twenty years working for Clorox as Senior Vice President and Chief Costumer Officer. In this roles he he helped Clorox make over 6.7 billion dollars in revenue. He takes the helm of the social justice based cannabis company looking to build “a new cannabis infrastructure that can address diversity, equity, and justice, in communities.”

Desiree Perez, who co-founded the full service entertainment agency Roc Nation, and is a pioneer in the up and coming cannabis industry, praised the business acumen, leadership skills, and strategic approach of Datcher. Leaving no doubt that she thinks he’s the perfect person to expand The Parent Company’s vision. That vision, as stated by Desiree Perez when she announced the venture fund, is to “identify, fund, and develop, entrepreneurs of color in the cannabis industry. Desiree Perez recognizes that repressive drug laws have unfairly impacted these communities for decades and wants to use the now legalized cannabis industry to help build wealth in those same communities. Not only has The Parent Company put up ten million in capital for initial investments, they have also pledged two percent of all future net income the company generates towards this goal.

The Parent Company sells a range of cannabis products, including Jay-Z’s luxury Cannabis line Monogram. They have also formed a strategic partnership with company Glass House Group which will allow them to sell a wide range of branded cannabis products in Glass House retail shops. As the new CEO Troy Datcher will be in charge of maintaining these partnerships as well as expanding The Parent Company brand.

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