The world’s largest publicly traded cannabis company, Canopy Growth, announced in a press release Wednesday that it has ousted one of its co-CEOs Bruce Linton. According to Linton, he and the company’s board decided that his “turn is over.” The Canadian company said Mark Zekulin will now be its only CEO. Rade Kovacevic, who was previously leading all Canadian operations and recreational strategy, has now become Canopy Growth’s president.
“Mark has been my partner since this company began and has played an integral role in Canopy’s success,” Linton said. “While change is never easy, I have full confidence in the team at Canopy — from Mark and Rade’s leadership to the full suite of leadership — as we progress through this transition and into the future.”
“I personally remain committed to a successful transition over the coming year as we begin a process to identify new leadership that will drive out collective vision forward,” Zekulin said. “I know the company will continue to thrive as the Canopy story continues on for years to come.”
Canopy Growth was founded in 2013, signing deals with celebrities such as Snoop Dog, Seth Rogen and Martha Stewart. The company now describes itself as “a world-leading diversified cannabis, hemp and cannabis device company” as it operates retail stores across Canada and has operations in more than a dozen countries on five continents.
Canopy Growth’s board director David Klein also made sure to thank Linton and Zekulin for helping the company grow to this point.“We are also excited to embark upon our next phase of growth as a global leader in the cannabis industry,” he said.