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SMITHS FALLS, Ontario - Cannabis company Canopy Growth Corporation (TSX:WEED) (NASDAQ:CGC), currently valued at $231.55 million in market capitalization, announced Wednesday the appointment of Tom Stewart as Interim Chief Financial Officer, effective immediately. The appointment comes as the company’s stock has declined over 80% in the past year, according to InvestingPro data.
Stewart replaces Judy Hong, who had served as CFO since April 2022. The company credited Hong with improving its capital structure and strengthening its financial position during her tenure, though InvestingPro data shows the company still faces challenges with negative EBITDA of -$14.79 million and revenue of $186.95 million in the last twelve months.
The new interim CFO brings over 20 years of financial experience to the role. Stewart joined Canopy Growth in 2019 as Chief Accounting Officer after spending 10 years in senior finance positions at Constellation Brands, Inc. He began his career at PricewaterhouseCoopers and is a Certified Public Accountant in New York.
"Tom has been a core member of our finance leadership team and is the right person to step into this role at a critical time," said Luc Mongeau, Chief Executive Officer, in the press release.
Stewart’s appointment aligns with Canopy Growth’s fiscal 2026 strategy, which emphasizes operational efficiency and disciplined capital management. The company has initiated a formal search for a permanent CFO.
Canopy Growth operates primarily in Canada, Europe, and Australia, offering cannabis products under brands including Tweed, 7ACRES, and Deep Space. The company also maintains an interest in the U.S. market through Canopy USA, LLC, which has ownership stakes in various cannabis operators and brands.
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