RE:RE:Canopy names Constellation Brands CFO as new chairIminlong wrote: The announcement of Klein as the new Chair strategically moves Canopy closer to appointing a new CEO. The Chair (i.e. STZ) always controls the ultimate decision as to who gets hired. It will be interesting to see if STZ brings on an insider or if they venture outside.
No one should be really surprised by this as it's now all about cost control and a path to profitability. Mike Lee is the current Canopy CFO and came from STZ. Don't be surprised if the new CEO has a history of taking companies from bleeding cash (like Canopy) to making them profitable. I like the announcement.
The major announcement since Bruce left (Biosteel) is a gamechanger and will be a huge profit maker in the future. We just have to get through this bloodbath that may last into the next month or so. What may help or hinder this stock is the Q2 numbers out mid-November. Over $100 million in revenue (close to $110) and it's great, if it's $100 million or less, more bleeding.