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A seasoned executive with broad CPG experience, Mr. Mongeau has most recently served as the CEO of North America’s leading e-commerce provider for residential and commercial furniture. He has previously held the role of president for Weston Foods, one of North America’s premier bakeries, as well as president of Mars Petcare North America, the core business unit of the world’s largest pet care company.
Since joining the Board as an observer in early 2023 and as a Board member in February 2024, Mr. Mongeau has played a key role in shaping the Company’s strategy. This has included a focus on driving asset-light expansion across Canopy Growth’s core markets, as well as actions to achieve near term profitability as the Company meets the vast opportunities presented by the global cannabis market.
“Having worked with our Board for nearly two years, Luc’s unique blend of cannabis experience, combined with decades of CPG expertise, makes him the ideal leader to guide Canopy Growth through its next phase of growth,” said David Lazzarato, Chairman of the Board, Canopy Growth. “The Board is confident in Luc’s ability to drive our vision forward while maintaining the Company’s momentum. We would also like to extend our gratitude to David Klein for his leadership and dedication throughout this transformative period in Canopy Growth’s history.”
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“With some of the best-known brands in the industry, a strong global medical cannabis business, category leading vaporizers from Storz & Bickel, and unique exposure to the high-potential U.S. cannabis market, Canopy Growth is well positioned for growth,” said Mr. Luc Mongeau, member of the Board, and incoming CEO, Canopy Growth. “I am honored to lead Canopy Growth into this exciting next chapter, and I am confident that our vision, dedication to our consumers, and the commitment of our team members will continue to position us for long-term success and value creation.”
“It’s been an honor over the past four years to lead Canopy Growth, which we’ve collectively shaped into a focused and financially disciplined organization primed for lasting success,” said David Klein, current CEO of Canopy Growth. “As the Company enters this new phase, I am committed to working closely with Luc to support an efficient transition and I’m confident in his ability to lead Canopy Growth forward to new successes.”
Mr. Mongeau will remain a member of the Board in his new role as CEO, and to support an efficient transition, Mr. Klein will continue in his role as CEO and a director on the Board until the effective date of Mr. Mongeau’s appointment as CEO on January 6, 2025. On January 6, 2025, Mr. Klein will step down as a member of the Board and will shift into a special advisor role until August 31, 2025. The Company is actively working to identify and nominate a new Board member to fill the vacancy created by Mr. Klein’s departure. Mr. Willy Kruh has replaced Luc Mongeau as an independent member of the Company’s Corporate Governance, Compensation and Nominating committee until a new director is appointed to the Board.
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