Chicago-based Cresco Labs, one of the largest vertically integrated multi-state cannabis operators in the US, has appointed Tom Manning as Chairman of the Board of Directors.
Manning joined Cresco’s board in 2016, three years after the company’s inception in 2013. Today, Cresco’s nine-member board includes six independent directors with renowned careers in public company governance, international business law, finance, audit, education and real estate.
In his ‘day job’, Manning serves as CEO of Dun & Bradstreet, a leading global corporate information provider and data analytics company.
He joined that company in 2013 after working in Asia for nearly 20 years in a variety of CEO roles in the information technology, consulting, and private equity sectors for firms such as Capgemini, Ernst & Young, and Cerberus.. He was also a senior partner with Bain & Company, where he led the global IT practice in Silicon Valley and Asia. He began his career at McKinsey & Company, where he launched the firm’s medical device and health care practice.
“I am honored to be appointed Chairman of the Board of Cresco Labs and to work with this tremendously talented and accomplished group of business leaders,” said Mr. Manning. “From the founders’ initial vision to normalize and professionalize cannabis, all the way to becoming a publicly traded company in 2018, management and our board’s interests have been closely aligned with our customers and patients, shareholders, regulators and legislators.
“As Cresco Labs continues to grow and expand, our board will remain true to Cresco’s core company values which are high corporate governance standards, integrity, longevity, fiduciary responsibility and sustainable shareholder returns.”
“I am honored to be appointed Chairman of the Board of Cresco Labs and to work with this tremendously talented and accomplished group of business leaders.”
Tom Manning, Cresco Labs (pictured)
Manning has served on numerous public and private boards and is currently an independent director of CommScope Holdings, a leader in the telecommunications technology field, and Clear Media, a leader in outdoor advertising in China.
Recently named a 2019 Fellow in Harvard University’s Advanced Leadership Initiative, he is focusing on developing new solutions to income inequality in American society. He is also an executive-in-residence at the Booth School of Business and a lecturer in law on the adjunct faculty at The University of Chicago Law School, where he has taught courses on corporate governance, private equity and innovation.
Manning speaks Mandarin and holds an MBA from Stanford Graduate School of Business and a bachelor’s degree from Harvard College. He also chairs the board of the Chicago Philharmonic Orchestra, the official orchestra of the Joffrey Ballet.
A patent-holder and noted speaker on China, corporate governance, and globalization, Manning has been published, quoted, or profiled in various media, including Chief Executive, CNBC, Industry Week, NPR, IHT, Business Week, Financial Times, WSJ, South China Morning Post, Journal of Private Equity, and Pepperdine Law Review.
Charles Bachtell, CEO and cofounder of Cresco Labs, commented, “Put very simply, Tom has an amazing career and education history that are assets to our Company. We are honored to benefit from his expert leadership, keen intellect and deep knowledge of the trends driving the business economy in the 21st century. As we grow, we intend to round out our distinguished board with well-recognized influencers in important disciplines including consumer packaged goods and marketing.”
Cresco Labs’ board of directors has two officers of the company serving on the board – CEO and cofounder Charles Bachtell and President and cofounder Joe Caltabiano. Three other company cofounders serve on the board – Brian McCormack, Robert Sampson and Dominic Sergi.
Cresco Labs Board of Directors:
Tom Manning, Chairman of the Board
Chief Executive Officer of Dun & Bradstreet
Chairman of the Board of O’Brien & Associates, LLC
Founder and Director of InnerWorkings
Principal of Podolsky Circle CORFAC International
Chief Executive Officer of Bemortgage
Chief Executive Officer, Clear Height Properties
John Walter, Ph.D.c
Former President and COO of AT&T and former Chairman,
President and CEO of R.R. Donnelley & Sons Company
* Indicates Cresco Labs cofounderCannabis Business Worldwide