Sector News

Cannabis company taps former Kellogg exec as CFO

July 11, 2019
Food & Drink

Surterra Wellness, a cannabis company based in Atlanta, announced July 9 Fareed Khan has joined the company as chief financial officer.

Until earlier in July, Mr. Khan was chief financial officer at Kellogg Co., a position he had held since February 2019. Before that he was c.f.o. at US Foods from September 2013 to February 2017.

“We’re thrilled to welcome Fareed to Surterra’s executive leadership team as c.f.o., where he will broadly contribute to Surterra’s continuing transformation,” said William H. “Beau” Wrigley, Jr. “Fareed’s track record of translating strategy into initiatives that drive growth for both private and public companies, across a number of industries, will propel our continued success. Importantly, his values and passion for meeting the needs of our consumers are a great fit with Surterra’s culture.”

Established in 2014, Surterra has operations in Florida, Texas, Nevada and Massachusetts. The company is planning an expansion into California later this year. The company offers cannabis products aimed at medical relief and wellness with numerous delivery options, including vaporizer pens, tinctures, oral sprays, topical creams, time release transdermal patches and soft gels. Surterra’s brands include Surterra Wellness, Florida’s Finest and Coral Reefer.

C.e.o. of Surterra since last year, Mr. Wrigley was c.e.o. of the Wm. Wrigley Jr. Co. from 1999 until the business was sold to Mars Inc. in 2008 for $23 billion. His great grandfather established the Wrigley business in 1891.

“Joining Surterra at this particular time of the company’s evolution and of the cannabis industry’s continued trajectory couldn’t be more exciting for me,” Mr. Khan said. “I’m proud to join Beau and the Surterra leadership team in bringing innovative and global brands that can improve the well-being of consumers around the globe. I look forward to building upon the company’s phenomenal growth to date to make Surterra a leading force in the cannabis industry.”

James Whitcomb, who had served as c.f.o. since 2016, has been named executive director of corporate development.

In June, Surterra announced the closing of a $100 million Series D funding round. To date the company has raised more than $300 million in private capital. The company said the Series D funding followed a period of rapid growth for Surterra in recent months, which has “transformed the company into a multi-state cannabis health and wellness business operator with recognizable brands, a revenue generating business strategy and meaningful investments in people, science, technology and innovation.”

By Josh Sosland

Source: Food Business News

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