The former chief financial officer (CFO) of renowned cereals producer Kellogg Co., Fareed Khan, has left his role at the cookie and cracker manufacturing company for an opportunity in the cannabis industry. 

Khan, who also previously served as the CFO of U.S. Foods, was named the new finance chief of Surterra Wellness Inc. on Tuesday, July 9. Headquartered in Atlanta, Georgia, Surterra boasts a product range comprising cannabinoid-containing oral sprays, creams, gels, tinctures, oils, vaporizers and more.

“Joining Surterra at this particular time of the company’s evolution and of the cannabis industry’s continued trajectory couldn’t be more exciting for me,” expressed Khan in a statement.

With Khan onboard, Surterra is hoping to cash in on the rise of legal cannabis, which analysts predict will be a $74 to 90 billion industry in the U.S. by 2030. Khan will be assigned a number of duties as the cannabis company’s finance chief.

In addition to providing regulatory oversight for the company’s corporate finance group, Khan will also be responsible for a number of other duties. Primarily, he will be the man in charge of sorting out Surterra’s taxes and investor relations.

Surterra recently hired a string of senior executives from big international companies 

James Whitcomb was the former CFO of Surterra. He joined the company back in 2016 but has now been replaced by Khan. Khan is not the only person the company has hired in recent times with a working background involving an international brand.

William Wrigley Jr. II assumes the role of CEO at Surterra. He built his empire acting as the former chairman and chief executive of Wrigley Management Inc. before he sold the company to Mars Inc. for a cash sum of $23 billion back in 2008.

“Fareed’s track record of translating strategy into initiatives that drive growth for both private and public companies, across a number of industries, will propel our continued success,” Mr. Wrigley commented about the hiring of Surterra’s new finance chief.

Then there’s Ed Brown, who formerly served as the CEO of Patrón Spirits Co. Now, he is the Executive Director of Surterra, which sells its products under a handful of names, including Coral Reefer, Florida’s Finest and The Apothecary Shoppe.

Surterra is actively raising money in the cannabis space

Being active in the cannabis space requires plenty of investment. With so much competition, expansion is key and for Surterra, this is what the $100 million it recently raised from private investors will be used to fund. Since 2014, the cannabis company has managed to raise $350 million. 

Prior to Khan being appointed as Surterra’s new CFO, he led finance, treasury, accounting and investor relations for USG Corporation; a position he held for almost 12 years.

“Through M&A, strategic partnerships and investments in organic growth we are striving to lead the industry on a global basis with a winning portfolio of brands and delivery options for consumers enabled by an advantaged business model,” reads an up-to-date excerpt from his LinkedIn profile.