Desiree Perez, chief executive officer of Roc Nation, has been named to the Board of Directors of The Parent Company, a cannabis company that blends operations with pop culture and social impact.
Perez’s appointment on May 13, 2021, further aligns Roc Nation, the multidimensional entertainment company she founded with Jay-Z.
Over the past 20 years, Perez has become one of the most powerful leaders in the entertainment industry while also being a leading advocate for criminal justice reform social change.
At Roc Nation, Desiree Perez leads all strategic direction for the organization, which includes artist representation, a record label, and touring partnerships. Desiree Perez has played a leadership role in every major deal Roc Nation has made in the past 10 years. Those projects include negotiating Jay-Z’s worldwide touring deal with Live Nation, the Beyoncé Formation stadium tour, and the Rihanna partnership with Samsung.
According to Perez, The Parent Company is committed to empowering Black and Brown cannabis entrepreneurs looking to gain their footing in the industry. The organization is a leader in the world’s biggest cannabis market. In a press release, the Roc Nation CEO stated she looked forward to strengthening the Parent Company’s influence and working with the board to create social equity initiatives.
Alignment Between Roc Nation and The Parent Company
Desiree Perez has also played a major role in growing Jay-Z’s portfolio, including the launch of the successful high-end liquor brands Ace of Spades champagne and D’Usse cognac and a global partnership with Universal Music Group.
The new venture further aligns the work of Roc Nation and a strategic partner. The company combines Jay-Z’s star power; CALIVA, a California direct-to-consumer platform; LEFT COAST VENTURES, a leading cannabis and hemp manufacturer; and Roc Nation. The Parent Company already acts as “Official Cannabis Partner” to Roc Nation, helping to leverage the entertainment company’s cultural influence and social impact to drive growth in sales and brand equity.
The Parent Company also focuses on promoting social equity as a core part of its mission. The company has recently announced a new social equity fund focused on investing in cannabis entrepreneurs who identify as Black and other persons of color.
When speaking of the recent appointment, Chairman of The Parent Company Michael Auerbach, made mention of Desiree Perez’s immense experience in brand-building and business. Key to her role as a Board member is her vast work in criminal justice reform. The chairman also expressed his anticipation for working with Perez as a member of the Board.
About Desiree Perez
Born in the Bronx to Cuban immigrant parents, Desiree Perez got her start as a part-time nightclub manager, where she first met Jay-Z. The two have worked closely together for years. Prior to being named CEO, Perez served as chief operating officer for Roc Nation for more than 12 years.
She was named Executive of the Year at Billboard’s 2019 Women in Music awards.