MedMen Taps Former Hudson’s Bay Executive as CEO; COO to Resign

Los Angeles — MedMen Enterprises Inc., a premier cannabis retailer with operations across the United States, has appointed Edward Record as chief executive officer, effective immediately. Record succeeds interim CEO Michael Serruya, who will continue to serve as chairman of the board.

Record joined MedMen’s board of directors in 2021. He brings deep retail and restructuring experience, having overseen financial and operational performance for several large national retailers. He previously served as the chief financial officer for Hudson’s Bay Company, whose U.S. holdings include Saks Fifth Avenue. Before joining HBC, Record was chief financial officer for J.C. Penney. Prior to J.C. Penney, Record held leadership positions at Stage Stores, Kohl’s and Belk.

“We are pleased to announce Ed as our CEO,” says Serruya. “Ed has the operational discipline and restructuring expertise that MedMen requires at this time, as well as a deep understanding of MedMen’s business model and strategy, inclusive of critical repositioning of the balance sheet and real estate portfolio.”

In other personnel news, Roz Lipsey, chief operating officer of MedMen, plans to resign on May 20, 2022.

MedMen is a premier American cannabis retailer with an operational footprint in California, Nevada, Illinois, Arizona, Massachusetts and Florida. MedMen offers a robust selection of high‐quality products through its premium retail stores, proprietary delivery service, as well as curbside and in‐store pickup. For more information, visit www.medmen.com.

SOURCE: MedMen Enterprises Inc.