Canopy Growth Corporation (TSX:WEED) (NASDAQ:CGC) announced on Tuesday that its board of directors has named Luc Mongeau as the company's next chief executive officer, effective Jan. 6, 2025.

Mongeau, a CPG veteran and board member at the Canadian cannabis giant, succeeds CEO David Klein, who announced his plans to retire in August.

Klein, who joined Canopy Growth in January 2020, led the Ontario-based company through transformation and development to meet opportunities within the global cannabis market.

"Under his leadership, the company established a foundation for multi-market cannabis leadership through its transformation to an asset-light model in Canada...