Doug Francis steps aside as CEO to serve as Chairman;
President Chris Beals to Assume Role as CEO
CALIFORNIA: Weedmaps today announced that the Company’s Board of Directors has appointed Chris Beals as Chief Executive Officer, effective March 6, 2019. In addition to assuming day-to-day leadership of Weedmaps, Beals will serve as a member of the Company’s Board. Since joining the Company in August 2015, Beals has served as Weedmaps’ President and General Counsel and has led the growth of the Company’s government relations, finance and compliance functions. Weedmaps announced that co-founder and previous CEO, Doug Francis, has been appointed Chairman of the Company’s Board of Directors.
“Ten years ago, my co-founder Justin Hartfield and I set out to bootstrap a marijuana technology company that not only aimed to be commercially successful, but also endeavored to promote freedom through the repeal of marijuana prohibition. We have built a special company and left a positive mark on society. To my Weedmaps family, it has been an honor to lead you through these changing times,” said Francis.
“We have exceeded our dream goals, and it is time for the next chapter,” Francis continued. “Chris has spent the last four years immersed in our industry and culture. He developed a dichotomy that gives us an advantage; an enterprise executive that knows the complex tribal knowledge and history of the weed business. Chris is a visionary and has already done an incredible job navigating the regulatory and growth challenges of a nascent and nebulous cannabis landscape. The Board and I are quite confident in his ability to lead the Company forward.”
“I am incredibly excited to assume this new role and for the future of the Company,” said Beals. “We have an exceptionally talented team at Weedmaps, that is focused on scaling our technology and data platform to provide interconnected solutions for the entire cannabis business and consumer spectrum. Our position as a leading technology company servicing the cannabis industry combined with our amazing leadership team puts us in an incredible position to succeed. In addition, building upon the original vision of Doug and Justin, Weedmaps continues to expand its role as a leading voice for cannabis legalization and decriminalization across the country.”
Aside from Board duties at Weedmaps, Francis will be focusing his time on legalization efforts with the Company as well as advising and managing other cannabis brands around the world.