Tom Schultz

Tom Schultz, CEO and co-founder of Connecticut Pharmaceutical Solutions Inc. (CTPharma), one of the state’s four licensed medical marijuana growers, died last week from injuries sustained in a bicycle accident. He was 70 years old. On Aug. 22 2020, Schultz, a New Canaan resident and New Britain native, during his weekly bike ride in Pound Ridge, N.Y., was struck by a 2014 Ford Econoline van that was traveling in the same direction. Schultz was in the midst of launching CTPharma's new 216,500-square-foot warehouse/distribution center in Rocky Hill. CTPharma is currently scaling down operations at its original 15,000-square-foot headquarters in Portland. CTPharma is investing some $30 million to renovate the former McKesson Corp. space it acquired for $7.5 million in February. Schultz, a graduate of Yale University, New York University School of Law and the Woodrow Wilson School at Princeton, started his professional career as a lawyer for Mudge Rose Guthrie Alexander & Ferdon. He later joined a Wall Street investment banking firm that was acquired by National Westminster Bank. In the mid-1990s, Schultz assumed the leadership of Dickinson Brands Inc. after completing a merger of one of the major producers of witch hazel plants. He would later go on to co-found CTPharma in 2013 soon after Connecticut's legislature established a medical marijuana program.