On August 15, 2024, Canopy Growth Corporation announced a CEO succession plan, with current CEO David Klein set to retire at the end of the fiscal year on March 31, 2025. Klein will continue in his role until a successor is appointed or until the end date, whichever comes first. The company has initiated a search for a new CEO with the help of a globally recognized search firm. Klein's leadership since January 2020 has been marked by significant strategic shifts, including a move to an asset-light model and the establishment of Canopy USA to capitalize on the U.S. cannabis market. The announcement follows the company's first quarter fiscal year 2025 results, which showed a 67% increase in gross profit year-over-year...Show More

On August 15, 2024, Canopy Growth Corporation announced a CEO succession plan, with current CEO David Klein set to retire at the end of the fiscal year on March 31, 2025. Klein will continue in his role until a successor is appointed or until the end date, whichever comes first. The company has initiated a search for a new CEO with the help of a globally recognized search firm. Klein's leadership since January 2020 has been marked by significant strategic shifts, including a move to an asset-light model and the establishment of Canopy USA to capitalize on the U.S. cannabis market. The announcement follows the company's first quarter fiscal year 2025 results, which showed a 67% increase in gross profit year-over-year and a consolidated gross margin of 35%. Klein will transition to a Special Advisor role to the board after stepping down as CEO, and will remain in this position until August 31, 2025. The company has also agreed to a Mutual Separation Agreement with Klein, which includes continued salary, benefits, and equity vesting until his resignation.