HEXO Names Former Truss Beverage Exec Scott Cooper As New CEO And President

HEXO Corp HEXO HEXO announced Wednesday that it had appointed Scott Cooper to serve as the new president and CEO.

Scott, who joins the Ottawa-based company from Truss Beverage Co., a joint venture between Molson-Coors Co. TAP and HEXO, where he served as president and CEO, replaces Sebastien St-Louis, who departed from HEXO on Monday.

Bringing strong experience gained while serving at Truss, Molson-Coors and several other publicly traded consumer packaged goods companies, Cooper is well-positioned to integrate HEXO's recent acquisitions and leverage solid brands, robust product offering and its lean production capabilities, as well as lead the company through the next phase of its strategic evolution, HEXO said.

"HEXO presents one of the most exciting opportunities in the cannabis industry," Cooper stated. 

"I look forward to working with the team to build upon the strong foundation already built, particularly through the company's recent acquisitions and to drive growth and profitability through the efficient commercialization of cannabis consumer packaged goods," Cooper continued. "I want to thank outgoing CEO Sebastien St-Louis for his tremendous effort in establishing growth and delivering a solid position from which the Company can move forward."

For an interim period of no longer than six months, Cooper will continue in his current role as CEO of Truss Beverages to ensure a smooth transition

HEXO's Recent Moves

In August, the cannabis producer debuted on the Nasdaq Capital Market, ahead of the completion of the $925 million acquisition of Redecan, Canada's largest privately-owned licensed producer, and the all-stock deal to purchase 48North Cannabis Corp., previously valued at $50 million.

Shortly after, the company announced that it had achieved its goal to become 100% carbon neutral by September 2021 by offsetting its operational carbon emissions, including the personal emissions of all of its 1200 employees, through a partnership with Offsetters.

HEXO’s CFO, Trent MacDonald participated in a panel discussion at Benzinga's Cannabis Capital Conference, held in New York Oct. 14-15.

HEXO Price Action

HEXO's shares traded 1.55% lower at $1.91 per share during the pre-market session on Wednesday morning.

Photo: Courtesy of Anders Kristensen from Pexels

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