Canopy Growth Names Luc Mongeau As New CEO
November 26, 2024Following the recent news that Canopy Growth CEO David Klein will step down early next year, Canopy has named board member and consumer goods veteran Luc Mongeau as its next chief executive, effective January 6.
Mongeau joined the Canopy board in February. His previous roles include president of Weston Foods, a $2 billion North American bakery, as well as president of Mars Petcare North America. Most recently he was CEO of ESolutions Furniture.
Canopy Growth reported net revenue down 9% to C$63 million ($45m) for its Q2 2025, ended September 30. When divested businesses are excluded, net revenue for Q2 was up 3%. Adjusted EBITDA loss was $6 million for the quarter, a 54% improvement year-over-year. Canopy has recently been busy consolidating its U.S. interests, with future growth expected from new products from the Jetty brand, along with the integration of Wana Brands and the acquisition of Acreage Holdings.—Daniel Marsteller
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