Canopy Growth Pushes Out CFO, President As Market Position Slides

Evidently Canopy Growth (TSX: WEED) is not satisfied with its poor performance to date. The firm this morning announced a number of changes to its executive team as it looks to right the ship at the flailing cannabis firm.

The company this morning announced that effective immediately, CFO and Executive Vice President Mike Lee, as well as President and Chief Product Officer Rade Kovacevic will be “stepping down from their roles.” Both former execs will stay with the company in what has been deemed an “advisory capacity” until the end of the year.

While permanent replacements were not named, in the interim Judy Hong will act as CFO of the company, while Tara Rozalowsky will act as the Chief Product Officer. Hong was previously the VP of investor relations and competitive intelligence, while also serve as chief of staff to CEO David Klein. Rozalowsky meanwhile was previously VP of beverage and edibles.

Canopy Growth last traded at $15.56 on the TSX.

Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply