#046 - Boardroom Dynamics in Cannabis w/ Wendy Berger, Board Member at Green Thumb Industries (GTI)

High Spirits: The Cannabis Business Podcast

We kick off with insights from CANNRA, a thrilling event where regulators and industry leaders unite to tackle the pressing challenges in cannabis and hemp regulation. Hear firsthand accounts from AnnaRae and Ben about the local market dynamics and the need for robust legislation to steer the industry toward a prosperous future.
This episode features the inspiring Wendy Berger, a board member at Green Thumb Industries (GTI) and an ardent supporter of women entrepreneurs. Wendy shares her remarkable journey from CEO to investor, to a pivotal role at GTI, revealing how her passion for plant-based medicine led to a transformative partnership with Ben Kovler. We delve into the complexities of board accountability, compensation, and the indispensable role of risk management in an industry fraught with uncertainty and rapid evolution.
Our discussion highlights the significance of diverse board representation, backed by compelling data from S&P and Harvard studies. Wendy sheds light on GTI's strategic recruitment efforts, including the addition of high-profile and diverse voices to their board. We also explore the burgeoning relationship between the cannabis and alcohol industries and discuss innovative strategies employed by companies like GTI to maintain a competitive edge. Tune in for a comprehensive insights-packed episode that promises to broaden your understanding of the cannabis industry's board dynamics and regulatory landscape.

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Your hosts are Ben Larson and AnnaRae Grabstein.
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1. Cannabis Regulation and Board Diversity (00:00:00)

2. Understanding Board Dynamics in Entrepreneurship (00:06:56)

3. Board Accountability and Compensation in Business (00:23:16)

4. Effective Board Management and Recruitment (00:37:30)

5. Importance of Diverse Board Representation (00:42:23)

6. Board Members Discuss Cannabis Industry Strategy (00:49:54)