[PRESS RELEASE] – LONG BEACH, Calif. and TORONTO, Feb. 24, 2026 – Glass House Brands Inc., one of the fastest-growing, vertically integrated cannabis companies in the U.S., announced the establishment of a special committee of its board of directors to oversee new products and business expansion beyond the company’s legacy California cannabis business and to evaluate ongoing and future partnership opportunities with traditional industry participants.
The special committee consists of board members Kyle Kazan, co-founder, chairman and CEO of Glass House; Graham Farrar, co-founder and president; and co-founder Joceyln Rosenwald; and independent directors Jay Nichols and Alison Payne.
Nichols has been appointed chairman of the special committee. He has over four decades of experience in corporate strategy and operations, having most recently served as chairman of the board and interim CEO of Protective Insurance Co., and prior to that as CEO of Axis Reinsurance Ltd.
Payne is an expert in branding and marketing, with extensive experience in driving brand growth across multiple categories, including beer, spirits, snacks and breakfast foods in the U.S. and Europe. She also currently serves as the chief marketing officer of Heineken USA.
“As we await the final rescheduling order from Attorney General Pam Bondi, we are actively preparing for the related new business opportunities we are confident will be forthcoming,” Kazan said. “This committee’s mandate is to evaluate prospects and ensure our organization is fully prepared to capitalize on these opportunities as they arise, driven by building momentum in cannabis reform.
“We remain confident that rescheduling cannabis to Schedule III can provide cannabis export opportunities to international medical markets in the near term and believe that Glass House is uniquely qualified to supply the Medicare reimbursable CBD market. Related to this, we are also excited by the president’s announced creation of a reimbursable CBD program, potentially with an annual market size of $30 billion, which, combined with rescheduling, would drive greater investment into the development of cannabis and hemp-based products across an array of traditional industry consumer product categories to support rising demand. Given that we’ve been growing cannabis for over 10 years, we have developed products and can cultivate input materials at a scale and price that is unmatched in the industry, which should dovetail into these new opportunities.
“To meet this demand, we have already accelerated cultivation and production expansion with the announced buildouts of Greenhouses 2 and 4, which greatly increase our cultivation capacity. We are also actively engaged with future distribution partners to supply medical cannabis markets in Europe upon rescheduling, as well as international CBD and hemp markets later this year. Forming this special product expansion committee is a key part of our strategy, improving how we find and act on new opportunities – such as partnerships with top product and brand developers – that go beyond what we are currently doing. As traditional industry companies develop cannabinoid-based products and brands, we want branded Glass House California cannabis inside.”
Nichols said, “We are at a crossroads of mainstream adoption for cannabinoid products, and Glass House is well-positioned for success in the evolving landscape. I am excited to collaborate with the other members of this committee as well as members of the company’s senior management team to explore ways in which Glass House can best utilize its core competency of low cost, high quality cannabinoid production to thrive within this changing world while partnering with legacy industry companies to leverage their leading capabilities on production, distribution and brand development.”
