Canopy Growth has raised almost four billion dollars as was recently announced and most of these funds come from male-dominated institutional companies like Merrill Lynch and Constellation Brands. It is evident that the marijuana industry has become acquainted with the depth and strength of some serious money. Many experts think that this amount of money will shape marijuana companies and the marijuana industry as well as more legalization across the board in a global sense, especially in North America.
Many of the marijuana companies in North America and across the globe are dominated by men; from the corporate team, executive officers to its Board of Directors. It is mostly men that gravitate towards the cannabis industry for lobbying purposes and for doing business. However, there appears to be a surprising and systematic issue.
At Canopy Growth, for example, the executive officers and Board of Directors happen to be only men. This male dominance is shown by how much the team has already impacted the cannabis industry and looking to continue making waves to permanently position the company for the future. Canopy Growth is one of the most valuable in the industry as it has the most market cap, controlling the most capital in the industry.
The Market Cap
Other marijuana companies that follow the same male dominant trend include Cronos, Aphria, Aurora and Terra Tech. Let's take a closer look.
- With Aphria Inc, the market cap is $4.48 billion and only one woman is on their board of directors, but there are no women as part of the executive team.
- Cronos has a market cap of $2.03 billion and this is an all men team; whether executive or board of directors.
- Aurora has a market cap of $8.07 billion and has two women as part of the board of director team and only one woman as part of the executive team.
- Canopy Growth has a market cap of %11.28 billion and there are absolutely no women on the executive team or board of directors. On the Canopy Growth's website, there is a noticeable leadership team, which includes only three women as part of the thirteen member team.
- Terra Tech Corp has a market cap of $1.2 billion and there are no women on the executive team or board of directors.
Male dominance in certain industries is not something new. This has been around for a while. There are just 18% seats held by female board of directors in the United States and just 4% are chairwomen. There are just 5% positions held by female CEOs from S&P 500 companies.
The Female Perspective
Because the legal market in the cannabis industry is still pretty new, most marijuana companies have a good chance to form and develop to the point of employing or having more females on the boards. This would change the corporate culture and allow different perspectives on policy decisions, making for a more progressiveness. Workforce productivity and improved economic performance would be improved and increased respectively, if more women are positioned on boards and in leadership roles.
The marijuana space is ripe for expanding internationally and that is why females should be included so they can be a part of it since they bring their own perspective and diversity to the table. Many marijuana companies are taking a second look at doing so because the impact will be positive in every sense of the word.
However, it might not be moving as fast as it should. In many marijuana companies, it is still business as usual where women don't have equal share in the decision making process.