Cannabis veteran Joe Hodas leaving infused products maker Wana

Cannabis industry veteran Joe Hodas is wrapping up his last week as president of Colorado-headquartered infused products company Wana Brands.

Hodas, who has led the Boulder-based company since founder Nancy Whiteman departed nearly a year ago, announced his departure in a LinkedIn post on Tuesday, noting the move is a “pretty normal cycle of acquisition, cost cutting and consolidation.”

He was referencing Wana Brands’ 2021 acquisition by Canada’s Canopy Growth Corp. in a transaction that, at the time, was valued at $297.5 million. Wana said in 2024 the deal’s value had increased to $350 million.

That transaction was finalized last October when Canopy’s American-based holding company, Canopy USA, said it had taken a 100% stake in Wana and its properties.

What’s next for Hodas and Wana?

Hodas, who joined Wana in 2020 as chief marketing officer, said he is unsure about his next career move.

As for his successor, a Canopy USA spokesperson told MJBizDaily that said an announcement would be forthcoming.

Wana was founded in 2010 as a cannabis edibles company, and it later entered the hemp-derived THC market.

In March, Wana landed a deal for Total Wine & More to carry its hemp-derived THC beverages in nine states.

Hodas, who joined Wana after stints with marijuana inhaler company Gofire and edibles pioneer Dixie Elixirs, both based in Denver, said he’s looking forward to spending time with his family, on his bike and in the mountains.

In his farewell post, he said he is “nostalgic” and “wistful” for the early days of regulated marijuana.

He also noted that his time at Wana was a period of his greatest professional and personal growth.

Whiteman offered ‘opportunity of a lifetime’

“A goodbye post wouldn’t be complete without a farewell to my amazing Wana team,” Hodas wrote.

“I cannot put into words my appreciation and gratitude for Nancy Whiteman.

“She afforded me the opportunity of a lifetime and changed my trajectory in fundamental ways.

“The only way I know how to give back to her is for her to know that I will carry her legacy of leadership, community, support, generosity and kindness with me no matter where I go personally or professionally.”