Canopy Growth names Mike Lee as acting CFO

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Canopy Growth (TSX:WEED; NYSE:CGC) appointed Mike Lee as acting CFO, effective June 1, and subject to Health Canada security clearance required for all officers and directors of the company.

Mr. Lee most recently served as EVP, finance at Canopy Growth. He brings a wealth of experience from the consumer goods and beverages industry, having worked for companies such as E. & J. Gallo Winery, PepsiCo, and recently Constellation Brands, where he served as SVP and CFO for the wine and spirits division. Among other things, he led the business transformation agenda at Constellation Brands, focused on digital enablement and operating model design.

In a statement, the company said Mr. Lee’s established strengths in developing high-performance teams, delivering financial results, and his ability to translate strategy into execution will help Canopy Growth’s leadership chart a course for the future.

Tim Saunders, currently EVP and CFO, will continue to serve the executive team and board of Canopy Growth as a strategic advisor in areas of mergers and acquisitions, corporate financing, and business transformation.

“Having championed the financial health of the company through an aggressive phase of M&A growth, multiple financing rounds, and historic listings on the TSX and NYSE, both firsts for cannabis companies, Tim's impact on Canopy Growth is permanent and sincerely appreciated,” the company said.

Bruce Linton, chairman and co-CEO, Canopy Growth, said Mr. Lee’s “philosophy, accomplishments and all-around track record give me confidence that the company's financial health and governance are in good hands.”

Sydney Stewart