Bruce Linton's firing signals it is time for the cannabis industry to start delivering
Forty-per-cent stakeholder Constellation Brands' new CEO was 'not pleased with Canopy’s recent reported year-end results'
Wednesday, July 3, 2019
The surprise ousting of the chief executive officer of Canada’s foremost cannabis company is a sign of things to come, some observers warned, as the young industry grapples with investor impatience in the face of what has so far been disappointing financial results. Canopy Growth Corp. announced that Bruce Linton, who founded and grew the firm into the world’s most valuable cannabis company, was “stepping down” from both his role as co-CEO and as a member of the board. But in multiple media interviews, Linton said he had effectively been terminated by the company’s board of directors — a majority of whom had been appointed by Canopy’s largest investor, the U.S.-based alcohol giant Constellation Brands. (See also: How will history judge Canopy Growth’s founder as a dealmaker?)
