Canada's Canopy Growth Corp fired founder and co-Chief Executive Officer Br...
) fired founder and co-Chief Executive Officer Bruce Linton, a surprise move that comes just a week after the weed producer’s largest shareholder expressed disappointment over its loss-making streak.
Linton also said he did not know why he was fired, adding, “At the end of the day I really think sometimes entrepreneurs are entrepreneurs because they’re not super employable.” “We are working with Canopy almost on a daily basis to ensure that we are all focused on the right things,” Constellation CEO Bill Newlands had said on a post-earnings call with analysts.
Linton’s strategy of chasing growth at the expense of near-term profits seemed to have fallen out of favor with top Constellation executives, who are under pressure to provide a clearer timeline on a return on investment in Canopy, Kessner said. Linton did not immediately respond to a Reuters request for comment. Reuters’ calls and emails to Canopy seeking details on Linton’s departure were not answered.
Rade Kovacevic, who currently leads the company’s Canadian operations and recreational strategy, will take over the role of president from Zekulin.
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