Constellation Brands CFO named chair at Canopy Growth

Photo: The Canadian Press

Staff work in a marijuana grow room that can be viewed by at the new visitors centre at Canopy Growth facility in Smiths Falls, Ontario.

Cannabis company Canopy Growth Corp. says Constellation Brands executive David Klein has been appointed as chair of its board of directors effective immediately.

Klein, the chief financial officer at Constellation Brands Inc., has served as a director on Canopy's board since 2018. Constellation is Canopy's largest shareholder.

He replaces John Bell who had been interim chair. Bell is expected to remain as a director.

Canopy co-founder Bruce Linton was ousted as chief executive and chairman earlier this year after Constellation said it was disappointed in the cannabis company's results.

Canopy's current chief executive Mark Zekulin, who had been co-CEO alongside Linton, has said he would stay on until a suitable replacement was found.

Bell told Canopy's annual meeting last month that the company expects to have a new chief executive in place by the end of year.