Former Gum Executive to Head Medical Cannabis Company

[dropcap class=”kp-dropcap”]F[/dropcap]rom blowing bubbles to blowing smoke, a chewing gum heir has been named chairman of a medical cannabis company.

William “Beau” Wrigley Jr. left the gum and candy business after he orchestrated the sale of his family’s business, most commonly known for Wrigley’s chewing gum, and has since served on the board of several tech, media and health companies. On Nov. 12, he was named chairman of Georgia-based cannabis company Suterra Wellness.

According to Surterra CEO Jake Bergmann, Wrigley’s reputation and expertise in building trust in consumer brands should boost the image of both Surterra and the U.S. cannabis industry.

“It validates a lot of what we’ve been working on,” Bergmann said.

“When I understood the massive benefits, it really changed my mind about the industry,” Wrigley told Bloomberg. “You don’t see too many opportunities to have that kind of an impact in an industry that is being created from scratch.”

The high chance of profit from selling cannabis in the recreationally legalized states is drawing interest from investors, even with a federal ban of cannabis continuing. “Everyone seems to be in there because they think they’re going to make tons of money,” Wrigley said. “Some will and some will be sorely surprised when they understand how complex it is.”

Wrigley also invested $65 million into Suterra Wellness, which is one of the three companies licensed for cannabis retail and cultivation in Texas and operates dispensaries in Florida. The money will be used to conduct research trials focusing on the treatment of post-traumatic stress disorder, pain, anxiety and other conditions. “This is about helping people,” Wrigley said in a statement. “It can give people a normal life, let them go to school and be a normal member of society.”

Suterra announced in September it would be working with Jimmy Buffet’s Margaritaville team to develop a new strain of medical cannabis called “Coral Reefer,” which is also the name of the company. “Obviously, with Beau Wrigley as chairman, Surterra possesses an understanding and capability for developing and honoring iconic brands,” said Coral Reefer CEO John Cohlan.