Shares of Canopy Growth Corporation (NYSE: CGC) gained over 2% on Tuesday after the cannabis giant announced the appointed of Mike Lee as its acting CFO, effective June 1, 2019. The appointment would be made permanent once a security clearance is received from Health Canada.
Lee has been serving as the Executive Vice President, Finance at Canopy Growth.
Current CFO Tim Saunders will continue to serve the executive team and Board of Directors of Canopy Growth as a strategic advisor in areas of mergers and acquisitions, corporate financing, and business transformation.
Canopy Growth Chairman Bruce Linton said, “As Tim transitions roles, I am also pleased to elevate Mike into the acting CFO role. His philosophy, accomplishments and all-around track record give me confidence that the Company’s financial health and governance are in good hands.”
The Smiths Falls, Canada-based firm is next scheduled to report quarterly earnings next week.