Chief Financial Officer (CFO), Co-Founder
Frank Turano is a native New Yorker, born in Brooklyn and raised in Staten Island. Mr. Turano earned a Bachelor of Science in Economics, with a dual concentration in Accounting & Finance from the Wharton School at the University of Pennsylvania, where he graduated Magna cum Laude in 1990.
Upon graduation, he took a position with Ernst & Young in New York City. After some time as a staff accountant at E&Y, Turano then decided to join his family business in Brooklyn, New York. During his 15 years there, where he eventually held the position of CFO, Mr. Turano helped grow the business by more than 250% to over $35 Million in annual sales. He spearheaded numerous financing initiatives, closing on more than $30 million in debt financing and on an $11.5 million mortgage for a new headquarters facility. As CFO, Turano also managed 125+ employees, spread over three national distribution centers.
Since 2008, Turano has been involved in several start-up ventures, most recently Calmare Pain Relief Solutions (CPRS), where he has been CFO for the past two years. CPRS is the largest provider in the U.S. of a non-narcotic, non-invasive treatment for chronic neuropathic pain known as Calmare. During his tenure, CPRS has opened more than a dozen locations, each offering treatments using the Calmare technology, and has assisted CPRS in appealing, and eventually winning, the first favorable ruling in the nation from the U.S. Department of Health, supporting the medical necessity of Calmare treatments.
Initially skeptical of the medical cannabis industry, his longtime friend and business partner David Palmieri urged him to give it a closer look. After some personal research, Frank became convinced in the therapeutic potential of medical cannabis. It was then that he agreed to help create CITIVA and make it a profitable, self-sustaining entity.