Top executives at MedMen quit amid claims of financial duress

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

Chief Operating Officer Ben Cook and also also also 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 also also also technology teams were also let go as the company tries to makes itself more efficient under CEO Adam Bierman.

Cook, Trager and also also also Yi did not immediately respond to CNBC’s requests for comment. MedMen declined to comment with This kind of article.

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

Yi joined MedMen in 2016 following roles at Southern California Edison and also also also the Port of Long Beach.

The latest employment shuffle comes amid concerns of overspending and also also also 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.

inside suit, the ex-CFO detailed what he viewed as a work environment “replete with racial, homophobic and also also also misogynistic epithets and also also also slurs, drug and also also also alcohol abuse, personal humiliation occasioned by the words and also also also deeds of the CEO and also also also President of the company [and also also also] profligate spending by both the CEO and also also also President.”

MedMen, inside middle of litigation, denies those allegations and also also also says the suit can be unfounded. Michael Kramer replaced Parker as CFO.

among the preeminent multistate cannabis companies inside United States, MedMen has recently drawn the eyes of customers and also also also Wall Street alike.

The company owns and also also also operates 19 facilities ranging via cultivation to retail in Arizona, California, Florida, Nevada and also also also fresh York, according to its website. the idea employs more than 1,000 people, has plans to expand into various other U.S. states and also also also Canada, and also also also recently posted sales of $29.9 million inside second quarter.

The public company trades on the Canadian Stock Exchange under the ticker MMEN. Many stock exchanges refuse to list companies with U.S.-based marijuana operations because of the federal outlaw.