Cresco Labs has announced that Ken Amann, who has been the company’s chief financial officer since 2015, is retiring effective Dec. 31, 2020. As part of a planned transition, Cresco Labs has appointed Dennis Olis to replace Amann as CFO, effective July 1.
Amann will remain in an advisory role through the remainder of 2020 to ensure a smooth transition of responsibilities.
“Ken was an early investor in Cresco and one of the first employees, joining as CFO shortly after Cresco won the initial licenses in Illinois,” said Cresco Labs CEO Charlie Bachtell. “I know I speak for the entire management team and board of directors when I thank Ken for his significant contribution in growing Cresco to this point. This is bittersweet for me and the Cresco family – it is sad to see Ken go but we wish Ken and his wife, Lisa, nothing but the best in this new phase of their lives. They will always be a part of this Cresco family.”
Olis joins Cresco Labs after previously serving as CFO for Allscripts Healthcare Solutions. He brings an extensive background in operations, financial planning and analysis, accounting, financial reporting, tax, internal audit, treasury and mergers and acquisitions at Allscripts and previously at Motorola.
Olis has more than 20 years of financial and operational management experience. At Allscripts Healthcare Solutions, Olis was responsible for the company's overall financial strategy, including cost management, capital allocation and balance sheet optimization. As CFO he led the $185 million acquisition of McKesson’s healthcare business, increasing revenue by $400 million and the integration effort leading to EBITDA improvement of $100 million within 15 months of the acquisition. Previously, Olis held a variety of senior finance and operations positions at Motorola Inc.
“After a thorough search, I’m thrilled to welcome Dennis Olis as our new CFO,” Bachtell said. “Dennis has an impeccable reputation and brings extensive financial, operational and strategic management experience. His track record of superior capital allocation and experience managing billions of dollars in annual sales as the SVP of Operations and Strategic Initiatives and as CFO makes him the perfect fit as Cresco enters the next phase of growth.”