Tuesday, September 5, 2017
Although marijuana is a relatively new area of business and law, the same issues of gender that critics have raised with respect to corporate America generally may be making their way into it. have found their way into this seemingly progressive area. There’s been a decline in the amount of women in leadership positions in cannabis industries. Brett Arends refers to this phenomenon as the “Grass Ceiling”:
The percentage of executives in U.S. marijuana-related companies who are women has collapsed to 27% from 36% in just one year, according to the latest anonymous survey by Marijuana Business Daily.
Not long ago the marijuana business was way ahead of U.S. business overall in the leadership positions held by women. But as the industry has become more mature and more mainstream, instead of building on that leadership, it’s going in reverse. Men are now edging out the women.
. . .
Cannabis companies are increasingly hiring executives from the rest of corporate America, and that favors men, notes Marijuana Business Daily’s Eli McVey.
More disturbing still may be an anti-female bias in financing. Women make up just 10% of the executives in the investment sector of the marijuana complex, the survey found. And men may, either consciously or unconsciously, favor companies run by men.