Darren Peddle Chief Financial Officer
To label the activity in Canada’s cannabis sector as dynamic would be a gross understatement. Once flourishing firms have started to fade while other entrants have begun to emerge. For Darren Peddle, Greenway’s CFO, every shift in the marketplace is not only a lesson learned, but a reassurance that his commitment to principle-based governance and transparency will continue to successfully steer Greenway through the Cannabis growing landscape.
Peddle is a man of few words, but the ones that he does speak are clear and measured. “Operating merely by a set of rules can quickly land you in a no-win situation. Combining rules with principles, on the other hand, will guide you and ensure long-term success.” When asked what principles guide him, Peddle replies without hesitation “Transparency, accountability, responsibility and fairness – they’re always top of mind.”
Throughout his career, Peddle has served in various financial positions within the agricultural sector and is now applying his expertise to the cannabis greenhouse sector. He plays a vital role in presenting the public face of Greenway to investors, regulators and policy makers and is the strategic partner to Jamie D’Alimonte, Greenway’s CEO. When asked what Peddle brings to Greenway, D’Alimonte opens his arms wide and smiles “He delivers the truth. Whether it’s with me, our team, our board or the public – he speaks the truth. It’s not only refreshing, it’s what we need to make successful decisions everyday.”
Peddle views the role of CFO as multi-faceted. “You have to wear a number of hats, but primarily transparent reporting, Board support, and investor communication.” He uses the term ‘duty’ when discussing his commitment to transparent reporting. “The CPA Code of Professional Conduct has always been something I’ve relied on. It aligns with my principles and makes my job as CFO much easier.” His support for the Board has proven to be the part of his responsibilities he enjoys the most. “With a Board as diverse as ours, the discussions are always enlightening. I walk away motivated and excited about the future every time.” He finds his commitment to keeping investors well informed is made more effective by the family values shared within the organization. “The Greenway team has been together for decades. We share a set of values that make even the most difficult decisions easier because of a shared understanding of what is right.”
Recently, Peddle has helped guide Greenway through the process of becoming a licensed cannabis nursery and licensed cannabis grower. Several missteps by early entrants have resulted in a licensing process that has become far more stringent and exhaustive. It’s been a grueling endeavour but Peddle has enjoyed the challenge. “You need the licensing process to be thorough and detailed. New restrictions filter out those applicants who don’t possess experience, resources and team to engage the market and deliver for both the customer and investor.” However, he is looking forward to Greenway becoming completely operational. “Becoming a licenced propagator and grower is merely our ticket to entry. How we perform in the marketplace will be the true measure of our success.” When asked if Greenway is strategically poised for success, Peddle relies on the facts to make his case. “We have the team, the resources, the experience and the expertise. With access to the market, we have everything in place to become an industry leader.”
If Greenway is the ‘dream team’ of cannabis cultivation, then Peddle is the statistician/manager that turns facts into great plays. When hearing of the comparison, Peddle is quick to respond, “I think the observation is correct, but it’s a shame my character isn’t played by Brad Pitt.” While that may be true, the star-in-the-making in this story is Greenway itself.