3 Challenges for Canopy Growth's New CEO
On Dec. 9, Canopy Growth (NYSE: CGC) announced its new CEO: David Klein. Currently an executive vice president and the chief financial officer of Constellation Brands (NYSE: STZ), Klein will assume the new role with Canopy Growth on Jan. 14, 2020. Canopy Growth has been on the search for a new leader since the company let go of co-CEO Bruce Linton in July, after the company continued to produce disappointing financial results. The company's existing CEO, Mark Zekulin, who was appointed after Linton's firing, is expected to step down now that Klein has been hired.
With a new CEO in place, Canopy Growth has the opportunity to start fresh and focus on improving its bottom line. However, that doesn't mean the company is out of the woods, as Klein is going to be facing three very significant challenges ahead.
The good news for Canopy Growth's investors is that Klein has a strong financial background. He's been in a financial leadership position with Constellation for more than a decade, serving as CFO of Constellation Europe in 2007 and in his current role since 2015.
Source Fool.com
