Minorities make up smaller proportion of cannabis executives, but women eke out tiny gain

The percentages of women and nonwhite executives in the cannabis business remained mostly stagnant in 2022 and were well below their peak levels from three years ago, according to a fresh report on diversity, equity and inclusion from MJBizDaily. The percentage of women bosses in the cannabis industry rose by 1% to 23.1% in 2022 over 2021 but remained well below the 2019 high of 36.8%, the study said. Racial minorities made up 12.1% of executives in the cannabis industry in 2022, down from 13.1% in 2022 and from a height of 28% in 2019, according to data from MJBizDaily. "Cannabis industry experts suggest that competitive markets tend to favor businesses with white men in ownership and leadership positions, primarily because of their established access to capital," MJBizDaily said. The total percentage of women and minority executives in the cannabis industry remain well below national averages for all types of companies.

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