Jay-Z’s ‘The Parent Company’ Found Its CEO Through LinkedIn

Chief Visionary Officer at The Parent Company is none other than rapper, entrepreneur, and billionaire Jay-Z. According to reports, the company launched just over a year ago, and when it went up on the Canadian NEO Exchange, it made history with the largest SPAC cannabis transactions. 

To date, 17 brands operate under The Parent Company, and one of those is Jay-Z’s exclusive brand Monogram. With such extensive business ventures for The Parent Company, it needed a CEO that was just as passionate as the team, so the company took to LinkedIn and thought cold messages might do the trick. 

Early 2021, Troy Datcher received a message on the job recruiting site from representatives of The Parent Company, asking him if joining a new company would be of interest. Datcher was working as head of global sales for The Clorox Company when he received the message, so there was some hesitation regarding how he could transition into a whole new industry.

Second thoughts aside, Datcher replied to the message and positioned himself as the CEO of The Parent Company. To help us understand how he’s been doing as CEO of such a large corporate cannabis company, Datcher spoke with Yahoo Finance and said he’s learned “quite a bit” so far. 

He’s learned his way around the industry, being a CEO of one of the largest cannabis companies in the country, and gotten to know the industry’s “very incredible dynamic landscape” in the United States. Datcher explained that staying up to date with the cannabis space, its evolving regulations, and acting as CEO was far more complex than working at The Clorox Company. 

But, while working with The Parent Company, he’s made it clear that his company’s goal is to become the “most impactful company in the cannabis industry,” reports Yahoo Finance. And despite the industry struggles and the unpredictable future, The Parent Company will always be committed to diversity, equity, and inclusion. 

“It’s much easier to build an industry from the ground up with that intention than it is to retrofit it,” Datcher concluded. According to sources, The Parent Company is standing with these morals by providing a social equity venture fund to help raise capital and mentorship to Black and minority cannabis startups. So far, it has already helped two Black-owned cannabis businesses get on their feet.