Irvine, Calif.-based Medterra announced that Gregory Reeder will step in as its new chief executive officer (CEO). Reeder assumes the role armed with a professional background and skillset the company feels is ideally suited as Medterra transitions and scales its business beyond CBD and into broader holistic health and wellness products and solutions.
Medterra has grown into one of America’s most trusted CBD brands, bringing in $50 million in annual revenue over the past four years. Former CEO and founder Jay Hartenbach will maintain responsibilities as chairman of Medterra’s board, while assuming the new position as chief innovation officer.
“Throughout his career, Greg (Reeder) has found continual success in accelerating the growth of both well recognized and newer brands,” said Hartenbach. “That experience is going to be critical to our efforts to expand as a company. Greg’s success has only continued as he completely reshaped Medterra’s international business. It was clear very early on that all of Medterra would benefit from this level of leadership.”
After successfully entrenching itself as the industry leader in CBD products and solutions, the company will be expanding its focus into the larger and growing wellness category, while continuing to spearhead the evolution of CBD and its mainstream adoption.
Reeder praised Medterra’s achievements under Hartenbach’s leadership as being truly an inspiration. “The company is an unquestioned pioneer and leader in the CBD industry, recognized by consumers for offering a broad range of highly innovative products, and owns a privileged position as a trusted brand with premier retailers,” said Reeder.
The word Medterra, explained Reeeder, means “from the earth” and the company’s long-term vision has been to go beyond CBD and identify broader levels of innovation where natural solutions are concerned.
“I’m honored with the opportunity to work with our incredible Medterra team as we evolve our business,” he added, “while still driving the evolution and widespread acceptance of CBD forward.”
Reeder initially joined Medterra in February as managing director of Medterra International. Prior roles included heading Pfizer’s $1.8 billion Global Wellness business, general manager of Pfizer Canada Consumer Healthcare, and country manager of Pfizer Romania.
Reeder started his career in product development and brand management at Procter and Gamble. He earned a Ph.D. in chemistry from the University of Cincinnati.