Zinger Key Points
- Damian Fagon, New York’s cannabis equity chief, resigned effective Nov. 27, despite being cleared of retaliation allegations.
- Fagon's departure follows months of controversy and leaves uncertainty about the future of the equity program.
- Markets are swinging wildly, but for Matt Maley, it's just another opportunity to trade. His clear, simple trade alerts have helped members lock in gains as high as 100% and 450%. Now, you can get his next trade signal—completely free.
New York's chief equity officer at the Office of Cannabis Management (OCM), Damian Fagon, resigned from his post, effective Nov. 27, despite being cleared of retaliation allegations.
According to GreenMarketReport, This decision follows months of controversy, beginning with his administrative leave in March after cannabis processor Jenny Argie accused Fagon of retaliating against her company.
See Also: New Yorkers In A Bind As Top-Shelf Cannabis Supply Falls Short, Could Home Cultivation Help?
Argie withdrew the lawsuit in July, which claimed that Fagon instigated a product recall after she criticized the OCM.
Exoneration And Transition
An investigation by the state's inspector general found no merit to the accusations. In an email statement on Friday, OCM acting executive director Felicia Reid confirmed that the inspector general's office had exonerated Fagon. Despite his clearance, Fagon opted to move on from the department.
“Mr. Fagon will be on leave and will focus solely on transitioning his equity portfolio to OCM leadership. This announcement comes after the conclusion of the NYS Inspector General investigation, which resulted in a determination that the allegations were unsubstantiated,” Reid said.
“I know that Mr. Fagon has done tremendous work leading OCM's equity efforts, setting up OCM to take the most innovative and equity-driven approach to the development of New York's cannabis industry. I am thankful to him for his time and talent. I wish him well and great success in his future endeavors,” Reid added.
Fagon significantly spearheaded New York’s cannabis equity program, working to ensure that marginalized communities, disproportionately impacted by previous marijuana laws, were included in the industry's growth.
OCM Leadership In Flux
The OCM itself is undergoing significant leadership changes. Fagon's resignation comes on the heels of former executive director Chris Alexander's departure in May, with Reid serving as interim executive director following an appointment by Governor Kathy Hochul.
OCM is actively searching for a permanent replacement for Alexander, but how the equity program will move forward without Fagon at the helm remains uncertain.
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