Canopy Growth names Mongeau as new CEO (updated)

Canopy Growth

26/11/2024 12:56

(Adds details on transition plan and background in paragraphs 2
through 5)
       Nov 26 (Reuters) - Cannabis firm Canopy Growth  WEED.TO 
on Tuesday named Luc Mongeau as its next chief executive
officer, effective Jan. 6.
    Mongeau will succeed David Klein who had announced his
retirement in August. 
    Klein will continue in his role as CEO and a director on the
board until Mongeau takes after and will then step down as a
board member and shift to a special advisor role until Aug. 31.
    Mongeau has been a member of Canopy's board since February
and played a key role in shaping strategy, the company said.
    Canopy had raised doubts about its ability to continue as a
going concern last year as it struggled to turn profitable. It
later sold its sports nutrition products unit, Biosteel, after
seeking bankruptcy protection for it.

 (Reporting by Mrinalika Roy in Bengaluru; Editing by Krishna
Chandra Eluri)
 ((mrinalika.roy@thomsonreuters.com;))