Hightimes Holding Corp., owner of the iconic High Times Magazine, has named a new CEO — its third in little over a year — as it readies a move into the retail arena.
High Times appointed Peter Horvath, a former American Eagle Outfitters and DSW executive, as CEO and board member. Horvath, who will spearhead the company’s retail expansion, succeeds Stormy Simon, the former president of Overstock.com, has served as CEO of High Times since January.
The appointment comes on the heels of the company’s announcement that it is acquiring 13 cannabis dispensaries in California from Harvest Health & Recreation Inc. (High Times also plans to open two branded flagships, in Las Vegas and Los Angeles, selling cannabis under dispensary licenses.)
Most recently, Horvath served as CEO of Green Growth Brands, which he took public on the CSE in November 2018. GGB operates The Source dispensaries in Nevada. It also owns the largest chain of CBD retail kiosks, mostly selling the company’s Seventh Sense line of CBD health and wellness products. (The company is pursuing previously announced sale of the CBD business to cannabis brand BRN Group Inc.)
Prior to Green Growth, Horvath served as chief global commercial and administrative officer at American Eagle from 2016-2017 and was president of DSW from 2005-2008. He also held leadership roles at L Brands’ Victoria’s Secret unit.
“We are pleased to welcome Peter to the High Times family, and to be able to tap into his wealth of experience capitalizing on major consumer brands,” said Hightimes executive chairman Adam Levin. “There are few executives with his retail experience in the mainstream world and, up to this point, none in the cannabis world with such an accomplished background.”