MariMed, Inc. (CNSX: MRMD) (OTCMKTS: MRMD) sustained growth as a company has been well-documented. Its ability to consistently grow revenues and free cash flow since inception has made MariMed a significant player among multi-state operators in the U.S. Midwest and Northeast. While a growing and loyal consumer base is driving the top line, it is executive leadership executed by the likes of Chief Financial Officer, Susan Villare, that is making a difference.
Like many cannabis executives, Ms. Villare did not come from within the cannabis sector itself. With nearly 30 years of experience leading global and national organizations through transformations and dynamic growth, she migrated from decades of experience in the telecom and high tech sectors.
Before joining MariMed, Ms. Villare was the Senior Vice President of Financial Planning and Analysis and Treasurer for Ribbon Communications—a NASDAQ public company—and held additional CFO and senior finance leadership positions along the way.
Commenting on her move to the cannabis industry, Susan was intrigued by the opportunity an early-stage growth sector like cannabis could bring. Factor-in the impressive growth that MariMed had displayed, it was enough to entice Ms. Villare to accept a C-Suite position with the company:
This past, you know, three years with COVID hitting its etc., I was reaching my ten year tenure in telecom and thirty years in high tech, and I said, ‘I love accounting, I love what I do, but I’d like to do something that’s far more interesting.’ So, I certainly did a right turn… The growth was tremendous, which is what drew me in. I mean, going from $50 million to $100 million, to, you know, our guidance this year is $135-140 (million). And the margins are fantastic, at over 50% and EBITDA margins of 35%. I was like, ‘wow’, this is something really exciting.
Click of the embedded link to view more of TDR’s inaugural interview with MariMed Chief Financial Officer, Susan Villare.
To view our previous MariMed podcast, click here.
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