Is MedMen in trouble? Top execs at the co. amid ex-CFO’s claims of financial duress

The chief operating officer and general counsel of MedMen Enterprises have both resigned amid a broader employee shakeup at the American marijuana retailer.

Chief Operating Officer Ben Cook and General Counsel Lisa Sergi Trager — who also served on the company’s board — have quit, a source familiar with the matter tells CNBC. Senior Vice President of Corporate Communications Daniel Yi has also resigned…

Some members of the company’s design and technology teams were also let go as the company tries to makes itself more efficient under CEO Adam Bierman.

Cook, Trager and Yi did not immediately respond to CNBC’s requests for comment. MedMen confirmed the resignations of Cook and Trager later Friday morning in a press release.

“We appreciate the contributions of all current and former MedMen team members as we work to build the world’s leading cannabis company, and I have the utmost confidence in the management team. Their expertise, skill set and experience sets the standard of excellence for the industry,” Bierman said in the release.

Cook, a global supply chain executive with 15 years of experience in retail and consumer brands management, was hired at MedMen in October following tenures at Sam’s Club, Target and Apple. Trager, an alum of both UCLA Law and global consulting firm Deloitte, helped MedMen navigate its various business transactions.

Yi joined MedMen in 2016 following roles at Southern California Edison and the Port of Long Beach. The company also announced on Friday the appointment of Ryan Lissack as chief technology officer.

The latest employment shuffle comes amid concerns of overspending and an unhealthy work environment at the Culver City, California-based company. Those worries were recently voiced by the company’s former chief financial officer, James Parker, who on Jan. 29 filed a lawsuit against MedMen for wrongful dismissal.

In the suit, the ex-CFO detailed what he viewed as a work environment…

Continue reading at