Cresco Labs today announced that Dennis Olis, Chief Financial Officer, will retire from Cresco Labs after a planned transition to Sharon Schuler.
Schuler recently joined Cresco Labs while preparing to take the role of Chief Financial Officer upon Olis’s departure. Schuler brings a corporate finance background in publicly traded wholesalers and retailers, most recently as an executive leadership team member at BJ’s Wholesale Club, a membership warehouse club spanning 244 clubs and 178 gas stations, across 20 states with $20 billion in annual revenue.
Olis has served as Cresco Labs CFO since July 2020. During his tenure, Cresco Labs grew from $125 million in annual revenue to more than $735 million today. The Company also saw significant profitability improvements with Adjusted EBITDA margin improving by 2,900 basis points and annual operating cashflow improving by over $100 million annually. He successfully prepared the company for future U.S. listings through conversion to US GAAP and SOX compliance readiness.
For the last three years, Schuler was responsible for planning and analysis of BJ’s Wholesale Club’s short and long-term financial outlook. Prior to that, she spent over 20 years in senior financial management roles for large public and private national retailers including The TJX Companies, Clarks America, and Caleres. Schuler holds an MBA in Integrated Management and a bachelor’s in economics from Michigan State University.
