Canadian cannabis company Canopy Growth Corp. (WEED.T) said Wednesday its co-Chief Executive Bruce Linton is stepping down from that role and will leave the board. The company, which is the biggest cannabis company by market capitalization thanks to a $4 billion investment from Corona beer distributor Constellation Brands Inc. (STX), said Mark Zekulin has agreed to be sole CEO and will work with the board to find a new leader, a task that will include internal and external candidates. "Creating Canopy Growth began with an abandoned chocolate factory and a vision," said Linton in a statement. "The Board decided today, and I agreed, my turn is over." Shares fell 1% in premarket trade, but are up 49% in 2019, while the S&P 500 has gained about 19%.
-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
July 03, 2019 07:39 ET (11:39 GMT)
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