Constellation CFO David Klein Named Chairman Of Canopy GrowthOctober 10, 2019
Canadian cannabis giant Canopy Growth has named Constellation Brands CFO David Klein as its new chairman. The move follows a challenging six months for Canopy and Constellation, its largest investor, which took a fiscal second quarter equity loss on its $4 billion investment totaling $484.4 million on a reported basis (the loss was $54.7 million on a comparable basis).
Canopy is still searching for a new permanent CEO following the departure of Bruce Linton earlier this year. Former co-CEO Mark Zekulin is currently filling the role as the board works to find a new permanent leader. Klein’s experience managing mergers and acquisitions, corporate strategy, and investor relations is seen as an asset as Canopy continues to navigate choppy waters in the nascent consumer category.—Shane EnglishSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.