Bowman Named As MedMen’s Fourth CFO In Four Years

After the market closed on Friday before a three-day weekend in the U.S., MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) announced the appointment of Ana Bowman as Chief Financial Officer, effective February 22, 2022. Bowman succeeds outgoing interim CFO Reece Fulgham, who will be returning to consulting firm Sierra Constellation Partners. The appointment comes on the heels of the company’s successful lawsuit brought by former CFO James Parker.

Bowman joins the company as it finds itself in a tangled lawsuit with Ascend Wellness over the assets in New York state. MedMen had agreed to sell the assets but is now trying to terminate the deal. Bowman is also stepping into a position that seems to be a short-lived one at the company.

CFO Churn

CFO James Parker had a quick shot at the role before leaving in a dispute with the company in November of 2018. By August 2019, MedMen was churning through CFO’s like tinder dates. Jim Miller had been appointed interim CFO after Parker resigned. He was replaced by Michael Kramer in December 2018, who was terminated in October 2019. Zeeshan Hyder was named the new CFO in October 2019. Hyder only lasted a little over a year before leaving in December 2020. Reece Fulgham became the new interim CFO and remained in that role until Bowman was appointed.

Bowman brings years of cannabis industry expertise, having served as Vice President of Financial Reporting and FP&A of Tilray Brands (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis lifestyle and consumer packaged goods company. Prior to joining Tilray, Bowman served as Corporate Controller of several publicly-traded U.S. registrants, following an exit from the world of big four public accounting.

“We are excited to have Ana join as our permanent CFO — bringing with her significant financial expertise from her time at Tilray and large public accounting and auditing firms, including Ernst & Young and Deloitte,” said Michael Serruya, MedMen’s Chairman and CEO. “We also want to thank Reece for stepping in as our interim CFO and wish him well in his future endeavors.”