Changing of the guard at Constellation and Canopy
Garth Hankinson has been promoted to the role of chief financial officer at Constellation Brands as David Klein leaves the company to become chief executive officer at cannabis firm Canopy Growth Corporation.
Hankinson will step into the role on 13 January 2020, when he will assume responsibility for overseeing all aspects of the drinks group’s finance operations. He will also serve as a member of Constellation’s executive management committee.
Since joining Constellation in 2001, Hankinson has held a number of leadership roles, most recently as senior vice president, corporate development.
“Garth has worked very closely with David as part of our finance leadership team for many years,” said Bill Newlands, president and CEO of Constellation Brands.
“He has a solid understanding of our company financials, strong strategic orientation and decision-making capabilities, and extensive industry knowledge that will benefit our company as we look to continue driving industry-leading growth and shareholder value.”
At the same time, Constellation’s current CFO David Klein will step down from his role to take the reigns at Canopy Growth, in which Constellation owns a “major” shareholding.
His appointment follows a dramatic evolution of Canopy Growth’s leadership team. This summer, the group announced that Bruce Linton’s “turn was over” as co-CEO. Mark Zekulin assumed the role of sole CEO and worked with the board to “identify a new leader to guide the company in its next phase of growth”.
Klein, who became chair of Canopy Growth’s board of directors in October this year, will step into the role of CEO on 14 January 2020.
“Canopy Growth sits at the forefront of one of the most exciting new market opportunities in our lifetime,” said Klein. “Thanks to the efforts of Mark and the entire team at Canopy Growth, no company is better positioned to win in the emerging cannabis market.
“I look forward to working with the team to build on the foundation that has been laid, to develop brands that strongly resonate with consumers, and to capture the market opportunity before us. Together we will drive sustainable, industry-leading growth that benefits employees, shareholders and the communities in which we operate.”