Canopy Growth Appoints Luc Mongeau as CEO

Canopy Growth Corporation has appointed Luc Mongeau as its new CEO, effective January 6, 2025, succeeding David Klein, who is retiring after leading the company since January 2020. Mongeau, a seasoned executive with over 25 years of experience in consumer packaged goods, has been a board member since early 2023 and has played a crucial role in shaping Canopy's strategies towards asset-light expansion and profitability. His previous roles include CEO of ESolutions Furniture and president of both Weston Foods and Mars Petcare North America. Klein's tenure was marked by significant transformations, including establishing Canopy USA to capitalize on U.S. cannabis market opportunities. The board expressed confidence in Mongeau's ability to drive the company's vision forward amidst a challenging market, where Canopy's stock has seen a decline of over 97% since 2019. Mongeau emphasized his commitment to leveraging Canopy's strong brand portfolio and market positioning for future growth.