For the second straight day, there’s been a major management change in the cannabis sector.
In the wake
Aurora Cannabis’ (
TSX.ACB)
change at the top on Tuesday, Toronto-based
Cronos Group (
TSX.CRON) has made a boardroom shuffle.
The company appointed Kurt Schmidt as its new CEO on Wednesday, and named Mike Gorenstein as the firm's new executive chairman.
Schmidt will take the helm at Cronos as the company efforts to turn the corner on several disappointing quarters marked by losses and write-downs.
The new Chief Executive Officer has worked in the consumer packaged goods (CPG) space for more than three decades, previously as CEO for Blue Buffalo Company Ltd. and Nestlé S.A.'s nutrition arm. Analysts largely viewed the announcement as positive despite Cronos' shares showing little change throughout the Wednesday trading session.
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