Turmoil ensued recently within the walls of SKUNK Global Media, a renowned name in the global cannabis industry, as shareholders took unprecedented action, removing multiple members of the board of directors from their positions. The company’s decision was prompted by concerns that the ousted board members were jeopardizing the firm’s culture, reputation and financial obligations to various entities.
The new board of directors, established in March 2023, was accused of exhibiting radical behavior that threatened the company’s stability. They stopped payroll and ordered the organization’s president and editor-in-chief to halt revenue generation until an unspecified date, as they planned a company-wide reorganization.
Julie Chiariello, SKUNK Magazine’s Editor-in-Chief since Fall of 2020 and co-owner since 2014, provided crucial insight into the predicament. She expressed regret over the drastic steps taken but defended their necessity, highlighting the need to protect SKUNK Global’s integrity and honor its business commitments to various stakeholders.
“We have regretfully taken these extreme measures in order to protect the integrity of SKUNK Global and honor our business commitments to our shareholders, staff, advertisers, contributors, and suppliers,” Chiariello disclosed.
Among the ousted board members were several recent investors who allegedly tried to seize control of the 17-year-old company, putting long-standing contractual agreements and business relationships at serious risk.
Despite these significant internal disruptions, SKUNK Magazine’s staff remained undeterred. According to Vivian McPeak, the magazine’s managing editor, work continued on the print publication and website even after payroll was abruptly stopped. She attributed this resiliency to the lack of guidance from the board members and the support and leadership from their editor-in-chief, Chiariello.
SKUNK Global Media’s present circumstances stand in stark contrast to its rich history. The company started 17 years ago as SKUNK Magazine, an international cannabis publication with a mission to educate people on sustainable, organic cannabis growing practices. Over the years, it evolved into a social platform for marijuana culture, making valuable contributions to the global cannabis movement. Its contributors, among them the finest authors, growers, breeders, scientists, craft makers, artists, entrepreneurs and activists, have been instrumental in leading the magazine’s charge against cannabis prohibition.
In a determined effort to rectify the situation and honor previous commitments and obligations, plans are underway to establish a new board and resume operations. As the dust settles, the tale of SKUNK Global Media serves as a stark reminder of the delicate balance of power within corporate organizations and the importance of preserving integrity in the face of adversity.
Photo by Micaela Parente on Unsplash
Be First to Comment