Blake Schroeder
Contentious bill sets different rules for several hemp products
CBD advocates and sellers are celebrating a big win this month after California Governor Gavin Newsom signed into law AB-45, a bill legalizing the sale of dietary supplements, foods, beverages and cosmetics containing the popular hemp-derived cannabinoid.
After nearly three years of debate and negotiations with a slew of opponents, manufacturers and sellers of these products, including many direct selling companies and their suppliers, will finally be able to access the largest state market in the country, representing 20 percent of U.S. wellness consumers.
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PEOPLE ON THE MOVE – July
Blake Schroeder, Medical Marijuana
Medical Marijuana Inc., parent company of Kannaway, has appointed Blake Schroeder as CEO and president. Schroeder will replace Dr. Stuart Titus, who is semi-retiring. Schroeder joined the company in 2016 and was formerly CEO of Kannaway. He also has worked for Forevergreen and MonaVie.
Companies large and small reap rewards of hemp reclassification and new cannabinoid discoveries
By: Stephanie Ramirez
“I would say that our company had a massive part in bringing about the federal legislation in 2018 that changed the Farm Bill.” Blake Schroeder, CEO, Kannaway
“We make it easy to customize your core nutrition, and CBD has just been one of those things that has been a great fit.” Ryan Montgomery, CEO, Reliv
According to a recent Direct Selling Association (DSA) consumer trends study, the health and wellness marketplace is changing rapidly. Direct sellers must continuously raise their own bar with a consistent flow of new products and communications to meet consumer demand for the latest natural compounds and plant derivatives. The rising implementation of new product lines mirrors the latest technological advancements in agriculture and chemistry.
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His thoughts on joining the cannabis industry and the future of CBD products
This month, SSN interviewed Blake Schroeder who has served as CEO of Medical Marijuana Inc.’s direct selling division, Kannaway, since March 2016. After completing his law degree at Syracuse University and working briefly in a private firm, Schroeder entered direct selling as associate general counsel at MonaVie. He quickly rose to the executive ranks, holding top positions in MonaVie and ForeverGreen International before joining Kannaway.
Founded: 2014
Executive: Blake Schroeder
Location: San Diego, California2018 Revenue: $60 million
Stock Symbol: MJNA (OTCMKTS)
Website: kannaway.com
SSN: What initially attracted you to a cannabis company?
I started talking to some of my friends who have been a lot more successful than me, and I told them I was thinking about going to work for a company called Medical Marijuana Inc., leading their direct selling division. Almost unanimously, they pointed out it was a growing space where a difference could be made. Those opportunities don’t come around every day.
At the time I was living in Utah, which is one of the more conservative states in the nation, and I honestly didn’t know what reactions would be like if I told people I was going to go work for a cannabis company. I remember one guy said: “Blake, look at the wrist watch that you’re wearing. Look at the pens that are sitting in front of you. Look at the furniture around you. Are all of those industries going to be bigger five years from now than they are today?” Then he asked, “Is the cannabis industry going to be bigger than it is today?” And there was just no question about that.
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