Chicago-based Cresco Labs Inc., one of the largest vertically integrated, multistate cannabis operators in the United States, announced that Joe Caltabiano has advised the company of his decision to resign from the position of president effective immediately. Caltabiano’s management responsibilities will be taken up by CEO and co-founder, Charlie Bachtell, as well as other members of the company’s leadership team.
Cresco has a presence in seven states, both on the cultivation and retail side. This includes 23 total production facilities and more than 30 retail licenses. The company has been growing cannabis in Illinois since 2015, when the state deregulated the drug for medicinal users, and has built three cultivation facilities in Illinois—the state’s maximum. Those facilities sold last year in a sale-leaseback for a combined $96 million. The firm also operates the Sunnyside marijuana dispensaries in Illinois.
Caltabiano has been active with several charitable organizations over the years, including Gateway for Cancer Research, Imerman Angels, The Leukemia & Lymphoma Society, Ronald McDonald House Charities and St. Jude Children’s Research Hospital.
