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Sunday, Mar 26, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


Canopy appoints new executives, adds 4 roles from Constellation

Currently, 4 out of the 6 members of the firm’s board hold or held roles at Constellation

Canopy appoints new executives, adds 4 roles from Constellation
Photo via Canopy Growth

Canopy Growth Corporation (TSX: WEED) (Nasdaq: CGC) is expanding its leadership team by appointing two executives and adding four new roles to its senior leadership team from partner firm Constellation Brands (NYSE: STZ).

On Thursday, the cannabis company said that Judy Hong will be Canopy’s new chief financial officer, and Jonathan Di Tosto will take over as chief operations officer.

Since 2019, Hong has been working as Canopy’s VP of investor relations, helping the company with its overall commercial strategy and engagement with the financial community.

She brings over 20 years of experience in financial and capital markets, after working at investment firm Goldman Sachs.

Last May, Di Tosto joined the company as VP of supply chain, working to optimize its global supply chain operations.

For 16 years, he worked with food processing and distribution firm George Weston Limited as VP of planning and logistics. He will take over Andrew MacCorquodale’s position, who will move into a strategic advisory role.

“As Canopy evolves, so does our leadership team and I’m pleased to welcome both Judy and Jonathan who have demonstrated their capabilities as leaders to drive our business forward,” CEO David Klein said in a statement.

Read more: Universal Ibogaine hires ex-Canopy research director ahead of clinical trial application

Read more: Canopy scant on equity metrics in first ESG report

Canopy is also adding four new roles to its senior leadership team, which will be led by “seasoned” executives hailing from U.S. beverage alcohol giant Constellation Brands.

Canopy says the new roles will allow it to achieve goals in the U.S. market, focusing on commercial sales, marketing, operations and strategic alliances.

“Accessing Constellation’s world-class in-market expertise will allow Canopy to strengthen our competitive positioning as we continue to build a foundation for long-term success in the U.S. market,” Klein said.

Klein took over as CEO in December 2019, leaving his role as CFO at Constellation, Canopy’s largest shareholder. Former chief executive and founder Bruce Linton was fired that July.

Currently, four out of the six members of the company’s board of directors hold or held roles at Constellation.

Read more: Canopy deepens ties with Constellation with two new board appointments

Read more: Constellation finance chief David Klein appointed as new Canopy CEO


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