Cresco Labs Names Former Motorola Exec New CFO

Vertically integrated cannabis company Cresco Labs (CSE:CL) (OTCQX: CRLBF) confirmed that Ken Amann, it’s current CFO, is retiring, effective December 31.

Cresco also disclosed it has named Dennis Olis as a new CFO. The new appointment is effective July 1.

According to a Thursday press release, Olis will replace Amann once he is retired.

Prior to the new appointment, Olis served as CFO at Allscripts Healthcare Solutions (NASDAQ:MDRX).

During his time at Allscripts, he supervised the acquisition of McKesson’s healthcare business worth $185 million.

He brings to Cresco extensive experience in operations, financial planning, analysis, accounting, tax, financial reporting, treasury, internal audit, and mergers and acquisitions.

Olis spent over six years at Motorola, where he also served as corporate vice president of Finance for four years.

The company said Amann would advise the newly appointed CFO until he retires.

Cresco founder and CEO Charlie Bachtell thanked Amann on behalf of the management team and board of directors for his contributions to the company, adding “Ken was an early investor in Cresco, and one of the first employees.”

“This is bittersweet for me and the Cresco family," Bachtell said. "It is sad to see Ken go but we wish Ken and his wife, Lisa, nothing but the best in this new phase of their lives."

Amann stated he is assured the company will strengthen its leadership position in the country’s cannabis space, adding Olis “is a proven, results-oriented CFO with experience in a variety of finance and operations roles at both Allscripts and Motorola.”

Recently, Cresco welcomed NBPA’s Executive Director Michele Roberts to its board of directors.