Head Of Canadian Cannabis Giant Canopy Growth To Retire At The End Of This FY
Portfolio Pulse from Jelena Martinovic
Canopy Growth Corporation (NASDAQ: CGC) announced that CEO David Klein will retire at the end of the fiscal year ending March 31, 2025. The company is initiating a search for a new CEO. Under Klein's leadership, Canopy Growth has seen significant transformation and growth, including a record quarter for Canadian medical marijuana. Despite a decline in consolidated net revenue, the company reported a 67% increase in gross profit. Canopy's shares traded 0.14% lower at $6.97 during the pre-market session on Friday.
August 16, 2024 | 1:27 pm
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Canopy Growth Corporation announced that CEO David Klein will retire at the end of the fiscal year 2025. The company is searching for a new CEO. Despite a decline in consolidated net revenue, Canopy reported a 67% increase in gross profit.
The retirement of the CEO and the search for a new one introduces uncertainty, which could be neutral in the short term. However, the company's strong financial performance and growth prospects provide a positive outlook.
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