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Venture capital firm Canopy Rivers Inc. (TSX:RIV) (OTC: CNPOF) said Monday that Canopy Growth Corp. (NYSE:CGC) CFO Mike Lee has joined its board of directors.
Prior to Canopy Growth, Lee served as the company's vice president of finance. Before that, he spent more than five years working at beer and spirits manufacturer Constellation Brands, Inc. (NYSE:STZ).
"Mike's addition to our Board is another sign of our strong and growing relationship with Canopy Growth and Constellation Brands," John Bell, chairman of the Canopy Rivers board, said in a statement.
The company expects Lee's vast experience in consumer packaged goods and the beverage sector will enhance its strategic execution and cannabis portfolio development.
Lee said that as Canopy Growth increases its focus on core markets and products, "there is a renewed need for an aggressive venture arm focused on identifying the next big opportunities in the global cannabis industry."
While at Constellation, Lee oversaw the development of brand and portfolio strategies, including the $3-billion wine and spirits division, as well as the company's business transformation program.
Lee also worked for E. & J. Gallo Winery for over 15 years, serving in a number of positions, from financial analyst to senior finance director, operations and supply Chain.
He also led finance for a $3-billion beverage business unit at PepsiCo, Inc. (NASDAQ:PEP), as well as an $800 -illion Modesto, California-based business, Foster Farms Dairy.
Recently, Toronto-based Canopy posted its latest earnings report, touting a new milestone: $47 million cash on hand and no debt.
Courtesy photo.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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