Kim Kovacs will become the new CEO of Santa Fe Farms, a leading hemp services company in New Mexico. She is currently the company's chief strategy officer.
Kovacs's appointment comes as the company's former CEO and founder Steven Gluckstern will move to become the company's executive chairman with a focus on industry advocacy. In addition, Rick Schawelson will take over as president and chief operating officer of Santa Fe Farms, according to a release from the company.
The leadership changes at Santa Fe Farms will go into effect on Jan. 1.
Business First attempted to reach Kovacs on Monday, but she was unavailable for immediate comment.
Kovacs was previously the CEO and chair of the Arvciew Group, a Bay Area company working with companies in the cannabis and hemp industries. She is also the managing director of Arroyo Ventures, an advisory and investment firm for female investors and entrepreneurs.
And soon, as CEO of Santa Fe Farms, Kovacs will oversee a major expansion effort as Santa Fe Farms is aiming to have one million acres of hemp cultivation in operation by 2027. The firm is also an early tenant at the Mesa del Sol business and residential development in southern Albuquerque.
Santa Fe Farms was founded in 2019 and offers hemp-focused cultivation, processing and products. Hemp is a source of CBD and comes from the same type of plant as cannabis, which has higher amounts of THC. But unlike THC, CBD does not make users intoxicated.
In September 2020, Santa Fe Farms acquired Albuquerque-based hemp company Fathom NM, led by former New Mexico gubernatorial candidate Jeff Apodaca. Fathom offered agricultural services to hemp farmers — such as harvesting, shucking, drying, milling and prepping and sealing crops — as well as access to sellers and buyers.
The deal with Fathom gave Santa Fe Farms access to a vertical range of hemp services, from cultivation to sale. Prior to the deal, Fathom expanded into a 50,000-square-foot building at Mesa del Sol.
In addition, Santa Fe Farms also purchased Colorado-based High Grade Hemp Seed and has international roots to boot with a subsidiary in Bangkok, Thailand, per the company.
