West Hollywood’s Medbox Inc., a maker of marijuana dispensing machines, has added a former FBI assistant director of security to its board of directors.
Jennifer S. Love, a 27-year veteran of the FBI, retired as the assistant director of the bureau’s security division after being appointed to the post in September 2011 by then director Robert S. Mueller III.
The announcement comes a week after Medbox hired Doug Mitchell as its chief financial officer, who previously held the same position at BJ's Restaurants Inc. in Huntington Beach.
That news sent Medbox stock price soaring last week, with shares rising 26 percent to close at $11.35, making it one of the biggest movers on the Los Angeles Business Journal’s index of the largest public companies.
Medbox shares had risen another 8 percent to $12.21 as of midday Monday following the announcement of Love’s appointment.
Love joins a board that includes Netflix co-founder Mitch Lowe and retired U.S. Ambassador to the Bahamas Ned L. Siegel.
“As the medical marijuana industry begins to expand and mature, I feel strongly that my experience and talents will blend well with Medbox's focus on security, transparency, and oversight in this young, rapidly emerging industry,” Love said in a statement.
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