Blake Cantrell, CEO of The Peak Dispensary.General Counsel of Cannabis Dispensary's Parent Company Named CEO
An Oklahoma City-based company that operates franchised and corporate-owned medical cannabis dispensaries announced earlier this week that its general counsel has become its new permanent CEO after the board of directors removed the last CEO.
December 26, 2019 at 03:17 PM
3 minute read
An Oklahoma City-based company that operates franchised and corporate-owned medical cannabis dispensaries announced earlier this week that its general counsel has become its new permanent CEO after the board of directors removed the last CEO.
The Peak Dispensary announced earlier this week that Blake Cantrell will serve as the CEO, effective immediately.
Cantrell said in the press release that he is excited for the new opportunity.
"We are experiencing rapid growth in our business, with plans to open numerous locations inside the next few months. We have a responsibility to exceed the expectations of our patients and our communities, and I'm confident we are now in a great position to fulfill those needs by continuing to focus on creating a successful and community-oriented culture at The Peak," Cantrell said in the press release.
Cantrell takes the place of Corbin Wyatt, who was removed by the board of directors earlier this week.
"After careful consideration, The Peak's board believed Wyatt's removal as CEO was necessary, as Wyatt's management and leadership of The Peak Dispensary did not align with the culture, values, and needs of the company's rapidly growing business," The Peak Dispensary said in the press release. "Wyatt's tenure as CEO left The Peak no choice but to protect its brand by filing legal action to ensure that several retail locations operating under the brand, with which Wyatt was associated, did not continue to unlawfully affiliate themselves with The Peak."
Wyatt could not be reached for comment Thursday.
A spokesperson for The Peak Dispensary said in an email to Corporate Counsel the general counsel position will remain unfilled for the time being. The company's legal issues will be handled by outside counsel McAfee & Taft. The spokesperson said the company would not be commenting beyond the press release.
Before joining The Peak Dispensary, Cantrell served as the market owner of OrderUp, a mobile food-ordering and delivery company. He has also worked as an associate at Hudson Legal. Cantrell has an MBA and J.D. from the University of Tulsa College of Law.
This move follows a trend in 2019 of general counsel stepping up to the CEO role when a company's top executive is ousted or retires. Most notably, in March, C. Allen Parker was named the interim CEO of Wells Fargo & Co. He was not named the permanent CEO, despite speculation that he would be, and Parker announced in November that he would retire from the bank to pursue new opportunities.
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