High Times has hired a new CEO. That makes three CEOs in a year for the iconic cannabis publishing company. This comes as a surprise after the company announces it will be pivoting into retail cannabis and is working to get an initial public stock offering at the same time.
Stormy Simon was the CEO of Overstock.com before she was CEO of High Times. She has just stepped down from the position after only four months on the job. She will be replaced by Peter Horvath, who is the former chief commercialization officer of American Eagle Outfitters and also the former COO of Victoria Secrets. Peter will be the third CEO of High Times in the past year, Kraig Fox left the company last December.
The management change to new CEO Peter Horvath comes right after the company announced it will acquire 13 operating and planned cannabis retail outlets in California from Harvest Health and Recreation. A deal, that if closes as planned on June 30th, would make Harvest a significant shareholder in High Times and High Times would become one of the largest marijuana retailers in California.