Medical Marijuana Inc (OTCMKTS:MJNA) recently announced the appointment of a new President and CEO in the person of Dr. Stuart Titus, a Wall Street expert and legal cannabis industry veteran. The company also announced the addition of three other members to its board. The developments happened at a time when some lawmakers in Capital Hill are pushing for marijuana regulation reforms, which could lift the current strict federal regulation of the drug and create new possibilities for entrepreneurs in the industry
Perfect combination of experience
Titus, one of the early investors in Medical Marijuana Inc (OTCMKTS:MJNA), was tapped to lead the company as both President and CEO. Given his experience as finance expert on the Wall Street and in the cannabis industry, Titus has the right combination of experience to take Medical Marijuana to the next level of growth.
The push continues for greater cannabis legal reforms to create conducive business environment for entrepreneurs as well as consumers. At a time such as this one, a leader with vast knowledge of cannabis industry is the right person to have at the helm of a fast-growing company such as Medical Marijuana, which is why Titus seems to be a perfect fit. The new CEO is well-placed to boost the confidence of existing shareholders and woo new investors.
Titus is also associated with General Hemp, LLC as a co-founder and president.
Besides being charged with the responsibilities of President and CEO at Medical Marijuana Inc (OTCMKTS:MJNA), Titus has also been named a board member of the company. The other new members to the board of the company are Robert L. Cunningham, Chris Prine and Dr. Timothy R. Scott, Ph.D.
Bill to reform marijuana law
Some lawmakers in the U.S. Senate have introduced a bill that seeks to alter the current classification of marijuana. If the bill goes through, marijuana would be reclassified under Schedule II instead of Schedule I, which currently portrays it as a drug that is dangerous and has no medical value. A move to reschedule marijuana is expected to allow banks to participate in legal marijuana industry and also open up new market opportunities for Medical Marijuana Inc (OTCMKTS:MJNA) and its peers.