Canopy Growth hires Klein as board chair

Canadian cannabis firm Canopy Growth, which is part owned by Constellation Brands, has appointed David Klein as chair of its board of directors.

Klein, who is current executive vice president and chief financial officer of US drinks group Constellation Brands, has served as a director on the board since 2018.

“I’m excited to serve as Canopy Growth’s new chair of the board of directors,” said Klein. “There is no company better positioned to win in the emerging global cannabis market.

“I look forward to continuing to work with Canopy Growth’s very talented leadership team to position the company for long-term, industry-leading profitable growth.”

Klein has held a number of executive roles in finance over the last 30 years. He specialises in corporate strategy, finance and accounting, investor relations, mergers and acquisitions, and information technology.

“Canopy Growth is honoured to welcome this exceptional leader as chair of our board of directors,” said Mark Zekulin, CEO of Canopy Growth.

“David’s leadership has been extremely valuable to our board at this pivotal moment in Canopy Growth’s history, and I am confident that he will continue to add value in his new capacity as board chair in the years ahead.”

Canopy Growth thanked John Bell for his role as interim chair over the past few months. Bell will continue as a director on the company’s board and provide guidance to Canopy Growth.

In July this year, Bruce Linton stepped down as co-CEO of Canopy Growth Corporation after the board said his “turn is over”.

New York-based Constellation Brands has invested almost US$6 billion in Canopy Growth since 2017 and now owns 38% of the business.

Canopy Growth is developing a range of cannabidiol-based (CBD) products for the US market, and plans to launch them before the end of its 2020 fiscal year.

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