Linton Out as CEO, but We See No Change to Canopy’s Strategy; Shares Look Undervalued
On the morning of July 3, Canopy Growth announced the departure of co-CEO Bruce Linton. Co-CEO Mark Zekulin is now sole CEO, although this may be temporary as the board of directors has launched a search for a new CEO. The company’s press release phrased the departure as mutual, although Linton has stated that he was fired. Despite the disagreement on how the decision was made, the reason appears to be disappointment in the company’s recently reported fourth-quarter results, particularly by majo...Canopy Growth is a licensed producer of medical marijuana in Canada. The principal activities of Co. are the production and sale of marijuana out of its facility in Smiths Falls, Ontario as regulated by the "Marijuana for Medical Purposes Regulations".
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