Company: CGC
Filing Date: 2025-08-07
Form Type: DEF 14A
Source: 0001104659-25-075215
Chunk: 52

Company: Canopy Growth Corp
Filing Date: 2025-08-07
Form: DEF 14A
Chunk 52
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 leadership in vaporization via Storz & Bickel • Storz & Bickel delivered net revenue in Fiscal 2025 of C$73 million, representing a 4% increase over Fiscal 2024 driven by a full-year of Venty portable vaporizer sales. • Consumer demand for the high performance Venty portable vaporizer, which launched in the second half of Fiscal 2024, continued to be strong in Fiscal 2025. The Venty portable vaporizer features highly adjustable airflow, precise temperature control and the fastest heat-up-time of any Storz & Bickel device. Canopy USA, LLC (“Canopy USA”) completed acquisitions of Acreage, Wana and majority ownership of Jetty • Canopy USA completed acquisition of 100% Mountain High Products, LLC, Wana Wellness, LLC and The Cima Group, LLC (collectively, “ Wana ”), 77% in Lemurian, Inc. (“ Jetty ”) and 100% in Acreage Holdings, Inc. (“ Acreage ”) during the course of Fiscal 2025. • Following the acquisition of Acreage, full integration is underway under a new leadership team at Canopy USA, led by Brooks Jorgensen, an accomplished executive in high growth industries, including cannabis, wine and spirits. CEO Transition Leadership Transition Overview Luc Mongeau’s appointment as CEO of Canopy Growth was officially announced on November 26, 2024, marking the culmination of a thorough and strategic search process to identify a successor to David Klein. Mr. Klein’s planned retirement, announced in August 2024, prompted the Board to initiate the selection process. The Board reaffirmed its confidence in the Company’s direction, selecting Mr. Mongeau as the ideal successor due to his extensive leadership experience, particularly within the CPG industry. Mr. Mongeau’s appointment as CEO became effective on January 6, 2025. Mr. Mongeau brings more than 25 years of senior leadership experience, having previously served as CEO of a leading North American e-commerce provider in the furniture sector and held prominent roles as President of Weston Foods and Mars Petcare North America. His career is characterized by a strong track record of operational excellence, business transformation, and profitability enhancement. Mr. Mongeau’s involvement with Canopy Growth dates back to early 2023, when he first joined as a Board observer, later becoming a Board member in February 2024. This prior engagement has allowed Mr. Mong