Canopy Growth Stock Surges After the Company Names a New CEO

Cannabis powerhouse Canopy Growth (NYSE: CGC) is turning to a familiar face to lead it to the promised land.

The marijuana giant said on Monday that David Klein would become its new chief executive officer on Jan. 14, 2020. Klein is chairman of Canopy's board of directors. 

Klein is also chief financial officer at alcoholic beverage titan Constellation Brands (NYSE: STZ) (NYSE: STZ-B). He has more than 14 years of senior leadership experience at Constellation, where he's credited with helping to "build enduring consumer brands while leveraging operational scale across a dispersed production footprint." That's exactly what Canopy is trying to do with its popular Tweed brand of cannabis products, among others. 

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Source Fool.com