Trulieve Appoints Co-Founder James Pernell as New President

Trulieve Cannabis Corp., a leading multistate marijuana operator based in Florida, has appointed co-founder James Pernell as its new president. The announcement was made in a company news release on Thursday.

Pernell’s Experience and Contributions to Trulieve

Pernell co-founded Trulieve alongside CEO Kim Rivers in 2015 and brings over 20 years of entrepreneurial and cannabis industry experience.

Transition in Leadership Following Steve White’s Departure

Pernell steps into the role following the departure of former Trulieve president Steve White, who stepped down in October 2023 ahead of his anticipated retirement at the end of the year. The company has not provided further details on the transition, and a spokesperson for Trulieve did not immediately respond to requests for comment.

Pernell’s Vision for the Future of Trulieve

In a statement, Pernell expressed enthusiasm about his new role, emphasizing his long-term commitment to Trulieve’s success. “As a co-founder, I have experienced first-hand the incredible growth and transformation of Trulieve from a small startup to the scaled, market leader we are today,” he said. “I am excited and ready for this opportunity to grow the company through superior products and innovation while always placing the customer first.”

Trulieve’s Financial Performance and Market Expansion

Trulieve also reported a strong financial performance in its latest earnings report. The company’s fourth-quarter revenue reached $301 million, marking a 5% year-over-year increase. Annual revenue also saw a 5% rise, reaching $1.2 billion.

Key developments in Trulieve’s quarterly report include:

The launch of Onward, a nonalcoholic THC-infused beverage.

The opening of 33 new retail stores in 2024, expanding its footprint to 225 locations nationwide.

The beginning of adult-use cannabis sales at three locations in Ohio.

Trulieve’s Stock Performance and Market Presence

Trulieve’s shares trade on the Canadian Securities Exchange as TRUL and on over-the-counter markets as TCNNF. The company remains a dominant force in the cannabis industry, with continued efforts to expand its presence and product offerings across multiple states.

Trulieve’s appointment of Pernell as president signals a new chapter in the company’s leadership, as it continues to strengthen its position in the growing cannabis market.