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Oct. 18, 2021, 7:31 a.m. EDT

Hexo close to finding a new CEO after departure of Sebastien St-Louis

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By Steve Gelsi

Hexo Corp. /zigman2/quotes/200008967/delayed CA:HEXO +8.73% /zigman2/quotes/206508254/composite HEXO +10.23% said Monday it's in advanced talks with "a preferred CEO candidate" and it expects to make an announcement in coming days. The company said founder and CEO Sebastien St-Louis has left the cannabis beverage company as part of a strategic reorganization. Hexo chairman Michael Munzar thanked St-Louis and said the board has set up a special committee for succession to find a new CEO to help the company defend its "position as a market leader in Canada and secure our place as a top-three global cannabis company." In a statement, St-Louis said the Hexo"future is bright" and that he looks forward to the company's next stage of growth as a significant shareholder. Hexo COO Donald Courtney has also resigned but will remain in the position until a replacement is identified. St-Louis had been with Hexo since he founded the company in 2013. HEXO shares are down 53% this year, negatively outpacing the Cannabis ETF's /zigman2/quotes/213173823/composite THCX +4.66% 3% dip YTD.

/zigman2/quotes/200008967/delayed
CA : Canada: Toronto
$ 1.37
+0.11 +8.73%
Volume: 2.95M
Dec. 7, 2021 5:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$392.68 million
Rev. per Employee
$96,922
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/zigman2/quotes/206508254/composite
US : U.S.: Nasdaq
$ 1.08
+0.10 +10.23%
Volume: 5.91M
Dec. 7, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$306.96 million
Rev. per Employee
$76,056
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/zigman2/quotes/213173823/composite
US : U.S.: NYSE Arca
$ 9.88
+0.44 +4.66%
Volume: 45,963
Dec. 7, 2021 4:00p
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