Medicine Man Technologies Inc (SHWZ)

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https://mjbizdaily.com/filling-marijuana-company-boards-is-getting-easier-as-industry-expands/

Schwazze added three new board members during the first quarter of 2021 to help oversee the Denver-based, vertically integrated cannabis company that formerly operated as Medicine Man Technologies. The company has a six-person board as well as a four-member advisory committee.

Due diligence is key during the recruitment process to avoid future board strife and conflicts, said Justin Dye, CEO and chair of Schwazze.

“You do your background checks,” Dye said. “You get their references and then you also go find your (own) references that would know of them. You try to get a really good picture of the individual: how they behave, how they get along (with others), how they perform, how they think through things, where their value is, etc.”

Candidates interview with Schwazze’s executive team as well as board members. Dye ultimately makes the hiring recommendation to the board, which votes to approve or reject new board members, he said.

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Dye communicates with at least some of Schwazze’s directors on a near-daily basis to update them on business operations or get their input on decisions, he said.

“Really good directors are there to think about the shareholder,” he said. “They’re there to drive performance and hold the board and the CEO accountable. They’re there to offer their time.”