Canopy Growth Appoints Constellation CFO As The Cannabis Company's New CEO

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Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) announced Monday that David Klein has been hired as the company’s new CEO, effective Jan. 14, 2020.

As previously announced, interim CEO Mark Zekulin will resign from the position and also from his seat on the company’s board of directors, effective Dec. 20.

“It has truly been an honour to be part of building a unique, Canadian success story like Canopy, and I look forward to seeing the Company continue to evolve and grow under David’s leadership,” Zekulin said in a statement.

Klein has sharpened his leadership skills for the last 14 years at Constellation Brands (NYSE: STZ), covering CPG and beverage alcohol industries. Currently, he’s an executive vice president and CFO at Constellation Brands. The company said Klein will resign from those positions, only remaining a member of the Canopy Board of Directors.

Over the last two years, Constellation Brands has invested over $4 billion in Canopy Growth.

“I look forward to working with the team to build on the foundation that has been laid, to develop brands that strongly resonate with consumers, and to capture the market opportunity before us. Together we will drive sustainable, industry-leading growth that benefits employees, shareholders and the communities in which we operate, “ Klein said in a statement.

Canopy Growth’s stock traded 3.4% higher to $19.28 per share at time of publication.

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Canopy Growth Is Prepared For ‘Cannabis 2.0’ In Canada, Analysts Say

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