TheraTrue, a medical marijuana operator based in Atlanta, has appointed Chris Ras as its new CEO amid an expansion phase in Ohio. The company recently launched its first store in Cleveland and plans to open a second location in Cincinnati this summer. Additionally, TheraTrue operates a production and cultivation facility in Georgia, where it produces medical marijuana products and intends to open dispensaries in the state later this year.
Mary Rachide, a board member at TheraTrue, emphasized the need for a leader skilled in executing growth strategies as the company embarks on this new chapter. Rachide noted Ras’ extensive experience in the cannabis sector, highlighting his ability to foster team development and maintain a customer-focused culture as pivotal for the company’s growth.
Ras previously served as the chief growth operator at Deep Roots Harvest in Nevada, where he oversaw retail marketing, procurement, and wholesale operations. His tenure at Columbia Care, a multistate cannabis operator, lasted nearly seven years and involved managing national retail operations across 17 states, contributing to annual revenues exceeding $400 million and the establishment of over 80 retail outlets.
In his new role, Ras plans to implement lessons learned from his previous positions, focusing on delivering an exceptional customer experience and ensuring operational effectiveness. He stressed the importance of maintaining relevance in the cannabis market while pursuing strategic growth initiatives.
“You want to stay relevant in where you are today and stay strategic with respect to growth,” Ras stated, adding that preserving cash flow is essential to maintaining a strong customer experience.
Ras brings a background in mainstream retail from his leadership roles at Target Corp. and Hannaford Supermarkets. He believes that foundational skills from traditional retail can enhance operations in the cannabis sector, advocating for a balanced approach that includes customer experience, operational strategy, financial management, and employee engagement.
Ras identified two primary challenges facing cannabis businesses today. The first is the fragmented regulatory landscape, where laws vary significantly from state to state, making it difficult to implement a uniform business strategy across the country. “In cannabis, it gets tricky because the laws and regulations differ quite significantly from state to state,” he explained.
The second challenge is price compression as markets mature. Ras cautioned that companies expanding production capacity too aggressively may face difficulties as supply increases and prices decrease.
Despite these challenges, Ras noted that employee commitment in the cannabis sector often exceeds that found in traditional retail. He remarked, “I find that our employees – from the CEO to any other part of the organization – believe in what it does. There’s a belief system that we share for what we do for the community and the patient.”
As Ras steps into his role at TheraTrue, he aims to align the company’s growth strategies with a strong commitment to its workforce and customer base, setting the stage for future success in the evolving cannabis industry.
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