Appointments are part of Canopy's commitment
to accelerate growth, further leverage its relationship with
Constellation Brands, and drive execution against strategic
priorities heading into Fiscal Year '23
SMITHS
FALLS, ON, March 31, 2022 /PRNewswire/ - Canopy
Growth Corporation ("Canopy" or "the Company") (TSX: WEED) (NASDAQ:
CGC), a world-leading diversified cannabis, hemp, and cannabis
device company, is pleased to announce the appointment of
Judy Hong and Jonathan Di Tosto to its Executive Management
Team, along with the creation of four new strategic roles within
its Senior Leadership Team.
Effective immediately, Judy Hong
has been appointed as the Company's Chief Financial
Officer. With a proven financial and capital markets
background built through more than 20 years of experience at
Goldman Sachs & Co., Judy joined Canopy in 2019 as the Vice
President of Investor Relations. Since arriving, Judy's deep
knowledge of the consumer-packaged goods sector has helped shape
Canopy's engagement with the financial community, as well as the
Company's overall commercial strategy.
The Company is also pleased to welcome Jonathan Di Tosto to the Executive Management
Team as the Company's new Chief Operations Officer (COO). Jonathan
assumes the role of COO from Andrew
MacCorquodale, who is building upon his five years of
dedication to Canopy by transitioning into a strategic advisory
role. Jonathan joined Canopy in May
2021 as Vice President, Supply Chain, where he has focused
on optimizing Canopy's global supply chain organization. Prior to
Canopy, Jonathan spent 16 years with George Weston Limited, most
recently as VP, Planning & Logistics, where he was accountable
for the end-to-end supply chain strategy, process, and execution
throughout Canada and the U.S.
"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," said
David Klein, CEO, Canopy. "As we
enter our new fiscal year and continue our focus on accelerating
growth and advancing on our path to profitability, I feel strongly
that we have the right team and strategy to realize our important
ambitions for the benefit of our customers, team members, and
shareholders.''
The new executive leaders join the Company at a pivotal time, as
Canopy enters Fiscal Year '23 on Friday,
April 1st with a focus on continued discipline
and execution against its strategic priorities, including further
expanding Canopy's premium flower portfolio and growing overall
premium share in Canada, scaling
the Company's high-impact global brands like BioSteel and Storz and
Bickel, and continuing to develop Canopy's U.S. THC ecosystem pre-
and post-permissibility.
To support the continued advancement of Canopy's U.S. strategy,
the Company has created four new strategic roles within the Senior
Leadership Team. These roles will be led by seasoned executives who
previously held leadership roles at Constellation Brands and bring
with them a breadth of experience, perspective, and capabilities to
help Canopy achieve its business goals in the U.S. cannabis market
in four focused areas: commercial sales, marketing, operations, and
strategic alliances.
"These roles were developed to leverage Constellation's
well-established understanding of the U.S. market, established
commercial relationships, and extensive operational capabilities,"
said Klein. "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."
The addition of these executive leaders illustrates the
meaningful steps forward Canopy is taking to advance its core
business objectives. The Company looks forward to providing
additional insight into its strategy for Fiscal Year '23 and beyond
during the Q4 and Fiscal Year '22 Financial Earnings Report in
May.
About Canopy Growth
Canopy Growth (TSX:WEED,NASDAQ:CGC) is a world-leading
diversified cannabis and cannabinoid-based consumer product
company, driven by a passion to improve lives, end prohibition, and
strengthen communities by unleashing the full potential of
cannabis. Leveraging consumer insights and innovation, we offer
product varieties in high-quality dried flower, oil, softgel
capsule, infused beverage, edible, and topical formats, as well as
vaporizer devices by Canopy Growth and industry-leader Storz &
Bickel. Our global medical brand, Spectrum Therapeutics, sells a
range of full-spectrum products using its colour-coded
classification system and is a market leader in
both Canada and Germany. Through our award-winning
Tweed and Tokyo Smoke banners, we reach our adult-use consumers and
have built a loyal following by focusing on top quality products
and meaningful customer relationships. Canopy Growth has entered
into the health and wellness consumer space in key markets
including Canada, the United
States, and Europe through BioSteel sports
nutrition, and This Works skin and sleep solutions; and has
introduced additional hemp derived CBD products to the United
States through our First & Free and Martha Stewart CBD
brands. Canopy Growth has an established partnership with Fortune
500 alcohol leader Constellation Brands. For more information
visit www.canopygrowth.com.
Notice Regarding Forward-Looking
Information
This press release contains "forward-looking statements" and
"forward-looking information" within the meaning of applicable U.S.
and Canadian securities laws (collectively, "forward-looking
statements"), which involve certain known and unknown risks and
uncertainties. Forward-looking statements predict or describe our
future operations, business plans, business and investment
strategies and the performance of our investments. These
forward-looking statements are generally identified by their use of
such terms and phrases as "intend," "goal," "strategy," "estimate,"
"expect," "project," "projections," "forecasts," "plans," "seeks,"
"anticipates," "potential," "proposed," "will," "should," "could,"
"would," "may," "likely," "designed to," "foreseeable future,"
"believe," "scheduled" and other similar expressions. You are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date the statement was made.
Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by
management, are inherently subject to significant business,
economic and competitive risks, financial results, results,
performance or achievements expressed or implied by those
forward-looking statements and the forward-looking statements are
not guarantees of future performance. Accordingly, there are or
will be important factors that could cause actual outcomes or
results to differ materially from those indicated in these
statements. A discussion of some of the material factors applicable
to Canopy Growth Corporation ("Canopy") can be found under the
section entitled "Risk Factors" in Canopy's Annual Report on Form
10-K for the year ended March 31,
2021, filed with the Securities and Exchange Commission and
with applicable Canadian securities regulators, as such factors may
be further updated from time to time in its periodic filings with
the Securities and Exchange Commission and with applicable Canadian
securities regulators, which can be accessed
at www.sec.gov/edgar and www.sedar.com,
respectively. These factors should not be construed as exhaustive
and should be read in conjunction with the other cautionary
statements that are included in this press release and in the
filings. Any forward-looking statement included in this press
release is made as of the date of this press release and, except as
required by law, Canopy disclaims any obligation to update or
revise any forward-looking statement. Readers are cautioned not to
put undue reliance on any forward-looking statement.
Forward-looking statements contained in this press release are
expressly qualified by this cautionary statement.
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SOURCE Canopy Growth Corporation