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Dec. 9, 2019, 7:02 a.m. EST

Canopy Growth names Constellation Brands' CFO David Klein as CEO, effective Jan. 14

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By Ciara Linnane

Canopy Growth Corp. /zigman2/quotes/200603886/composite CGC -0.77% /zigman2/quotes/202205609/delayed CA:WEED -1.03% said Monday it has named David Klein, chief financial officer at its biggest shareholder, Constellation Brands Inc. /zigman2/quotes/207737284/composite STZ +1.38% , as its chief executive officer, effective Jan. 14. Klein will replace current CEO Mark Zekulin, who will be stepping down and resigning his board seat within a year. Canopy is the cannabis sector market leader, thanks to a $4 billion investment from Corona beer brewer Constellation last year. The company ousted Zekulin's co-CEO and Founder Bruce Linton in July, and initiated a CEO search. Canopy's U.S.-listed shares rose 1.9% premarket, but are down 31% in 2019, while the ETFMG Alternative Harvest ETF /zigman2/quotes/204332491/composite MJ +0.92% has fallen 32% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.47% has gained 25%.

Read the full story:
Cannabis market leader Canopy Growth names Constellation Brands’ CFO as its new CEO

/zigman2/quotes/200603886/composite
US : U.S.: NYSE
$ 21.77
-0.17 -0.77%
Volume: 5.59M
Feb. 19, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$7.65 billion
Rev. per Employee
$115,039
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/zigman2/quotes/202205609/delayed
CA : Canada: Toronto
$ 28.78
-0.30 -1.03%
Volume: 2.23M
Feb. 19, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$10.14 billion
Rev. per Employee
$150,142
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/zigman2/quotes/207737284/composite
US : U.S.: NYSE
$ 206.64
+2.82 +1.38%
Volume: 805,746
Feb. 19, 2020 4:10p
P/E Ratio
52.05
Dividend Yield
1.45%
Market Cap
$38.59 billion
Rev. per Employee
$842,260
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/zigman2/quotes/204332491/composite
US : U.S.: NYSE Arca
$ 16.53
+0.15 +0.92%
Volume: 507,590
Feb. 19, 2020 4:10p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,386.15
+15.86 +0.47%
Volume: 1.73B
Feb. 19, 2020 5:05p
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