Anything about this write-up and the published photo tells us a further narrative in the sub-text .
Canopy Development CEO Mark Zekulin, is photographed in the course of an interview in Toronto on Thursday, September five, 2019. THE CANADIAN PRESS/ Tijana Martin
City News reports Canopy Development Corp.’s interim chief executive says the mood at the cannabis producer has “never been improved,” a comment that comes two months just after its charismatic co-founder was abruptly ousted from the major job and as stress mounts for the enterprise to attain profitability.
Mark Zekulin says the enterprise is shifting from “building” mode and hefty investments in infrastructure and expansion to “operating” mode.
Having said that, he notes that this move is separate from the transition of leadership underway from the prior CEO Bruce Linton and is the “natural progression” for the enterprise and its plans.
His comments come 1 week just after Canopy’s biggest investor, Constellation Brands, mentioned it expects to record a US$54.eight-million loss in its present quarter from its $five-billion investment into the Smiths Falls, Ont.-primarily based enterprise.
The New York-primarily based alcohol giant had mentioned in June it was “not pleased” with Canopy’s earnings, and Linton’s surprise termination from the major job followed in July.
Zekulin, formerly co-CEO alongside Linton, said last month that he would leave the enterprise as soon as a appropriate CEO is located, and the recruitment course of action is underway.
Supply: https://www.citynews1130.com/2019/09/05/canopys-under no circumstances-been-improved-says-interim-ceo-as-greatest-investor-set-to-record-associated-loss/
We also note this just on our linked in feed (six.9.19)
Hints at a merger?
“There’s a symbiotic partnership in between Canopy and Acreage. There’s a lot that they’re carrying out in Canada that we can bring to the U.S. and there’s a lot we’re carrying out in the U.S. that can be brought to Canada.” Acreage Holdings CEO Kevin Murphy and Canopy Development Corporation CEO Mark Zekulin speaking at Marijuana Company Each day on “The Future of Hemp and Cannabis in the Age of Consolidation” panel. hashtagMJBizConINTL