Canopy Growth Corporation announced on November 26 that the company's board of directors has named current Board member and CPG-veteran, Mr. Luc Mongeau, as the next Chief Executive Officer of the Company, effective January 6, 2025.
Since joining the Board as an observer in early 2023 and as a Board member in February 2024, Mr. Mongeau has played a role in shaping the Company's strategy. This has included a focus on driving asset-light expansion across Canopy Growth's core markets.
Luc Mongeau
David Lazzarato, Chairman of the Board said: "The Board is confident in Luc's ability to drive our vision forward while maintaining the Company's momentum. We would also like to extend our gratitude to David Klein for his leadership and dedication throughout this transformative period in Canopy Growth's history."
Luc Mongeau said: "I am honored to lead Canopy Growth into this exciting next chapter, and I am confident that our vision, dedication to our consumers, and the commitment of our team members will continue to position us for long-term success and value creation."
David Klein, current CEO of Canopy Growth said: "It's been an honor over the past four years to lead Canopy Growth, which we've collectively shaped into a focused and financially disciplined organization primed for lasting success."
Mr. Mongeau will remain a member of the Board in his new role as CEO, and to support an efficient transition, Mr. Klein will continue in his role as CEO and a director on the Board until the effective date of Mr. Mongeau's appointment as CEO on January 6, 2025. On January 6, 2025, Mr. Klein will step down as a member of the Board and will shift into a special advisor role until August 31, 2025. The Company is actively working to identify and nominate a new Board member to fill the vacancy created by Mr. Klein's departure. Mr. Willy Kruh has replaced Luc Mongeau as an independent member of the Company's Corporate Governance, Compensation, and Nominating Committee until a new director is appointed to the Board.
For more information:
Canopy Growth Corp.
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canopygrowth.com