The chief executive officer of one of the oldest and biggest cannabis companies in Canada is retiring.
David Klein, who joined Canopy Growth Corp. as CEO in January 2020, will retire at the end of the company’s current fiscal year, on March 31, 2025, according to a news release.
Klein also will remain a member of Canopy’s board of directors until his retirement or until a replacement is found.
According to the release, Canopy will use an executive search firm to find a replacement.
Under Klein’s leadership, Canopy expanded internationally into such markets as Denmark, Germany and the United States.
In the U.S. move, Klein oversaw the launch and advancement of Canopy USA, a holding company designed to enable Canopy’s planned entry into the American marijuana market.
“As we look to the next six months and beyond, I remain focused on driving Canopy Growth to profitability while supporting the smooth onboarding of a new CEO to lead the Company forward in its next phase of growth,” Klein said in the statement.
Klein came to Canopy from Constellation Brands, a New York-based alcohol giant, where he served as chief financial officer.
He succeeded Mark Zekulin, who agreed to remain as Canopy’s sole CEO after the board of directors fired co-CEO Bruce Linton in July 2019.
