Marijuana Law, Policy & Reform

Editor: Douglas A. Berman
Moritz College of Law

Wednesday, April 19, 2017

"Why Women Founders Are Ruling Legal Marijuana"

The title of this post is the headline of this notable new article from the May 2017 issue of Inc Magazine.  Here is an excerpt:

There's some evidence that women are finding it easier to break into cannabis than other sectors of corporate America. One 2015 survey of 630 marijuana professionals found that women held leadership roles in 36 percent of those businesses, compared with 22 percent of U.S. companies generally, according to the trade publication Marijuana Business Daily, an Inc. 500 company that was co-founded by two women -- Cassandra Farrington and Anne Holland. "I hit that glass ceiling at 100 miles an hour," Farrington, a former Citigroup employee, says. "There's no question this is a huge area for entrepreneurship, and there are so many women fed up with the corporate arena" who find marijuana more appealing.

Like Farrington, many of the women already running marijuana-focused businesses have extensive -- and seemingly boring -- résumés at banks, hedge funds, law firms, consultancies, insurance giants, and other traditional, highly regulated corporations. They not only know how to cut through the red tape -- they welcome it. "I just got up one morning and read all the Colorado rules," shrugs Peggy Moore, who spent 33 years working for United Health Group before becoming the CEO of Denver-based pot bakery Love's Oven. "After dealing with all of the insurance industry's regulations, it wasn't that complicated."

Another lengthier article in the same issue is titled "How the Queen of Legal Weed Is Targeting the Chardonnay Crowd."  Here is how it starts:

Nancy Whiteman still mourns those candied, spice-dusted almonds.  "They were so good. They were so stinking good," she sighs longingly.  And so stinking hard to make -- legally. Because Whiteman, the unlikely co-founder and co-owner of the most successful specialized candy business in Colorado, didn't stop with the curry powder and sugar and salt.  She also dredged those almonds through syrup infused with THC, the active ingredient in marijuana.

After all, that's what her seven-year-old company, Wana Brands, makes: treats that can get you really, really high.  The Boulder-based business, which Whiteman runs with her ex-husband, ended last year as the best-selling purveyor of marijuana-infused edibles in its home state of Colorado, according to industry data firm BDS Analytics.

Whiteman may have begun her legal-pot career rummaging through weed-extraction videos on YouTube and testing recipes in a kitchen that was "one step up from an Easy-Bake oven," but Walter White she is not.  Nor is she even Mary-Louise Parker's Nancy Botwin, the housewife-dealer of Weeds.  A 58-year-old mother of two, Whiteman presents as more sales rep than drug lord: russet hair in a sensible bob, a sly sense of humor tucked beneath a Northeastern reserve, and the professionally tidy business casual of someone who started her career in suits.  "Whatever your stereotype might be of somebody in the marijuana business, I'm probably not it," Whiteman, a former insurance marketing executive, wryly acknowledges. "I think a lot of times people are just surprised."

http://lawprofessors.typepad.com/marijuana_law/2017/04/why-women-founders-are-ruling-legal-marijuana.html

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