Bruce Linton Tells CNBC He Was 'Terminated' From Canopy Growth
What He Said
Linton said during an interview on CNBC that he was "terminated." As part of Constellation Brands, Inc. (NYSE:STZ)'s multi-billion dollar investment, the alcohol company requested a reconfiguration of Canopy's board.
"When you bring a big check and you change the board, unless you're living in La La Land, there's always some perceived risk," Linton said, "but it would have been worse for the company if we didn't do that."
Canopy Growth is blessed with a deep roster of talented employees who can "work through the transition" although it will be "odd," according to Linton. After all, no one in the company was expecting a major management shakeup at the highest levels.
Need more cannabis news? Check out all of our coverage here.
Canopy Growth's presence in 16 countries backed by 4,000 employees and a market capitalization that hit $20 billion marks a "productive" six-year chapter in Linton's life, he said. Canopy will remain a "dominant" cannabis company, a view that remains unchanged despite being terminated.
Linton said he hasn't made a decision on what his next career move will be. His next career move won't be in the Canadian cannabis industry as there is a "pretty big world out there."
Linton also said he likes OrganiGram (NASDAQ:OGI) and Canopy Rivers.
Canopy Growth shares traded lower by 3.4% to $38.72 at time of publication.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.