Hexo Corp on Wednesday named beverage executive Scott Cooper its new president and CEO, two days after announcing the departure of founder and ex-CEO Sebastien St-Louis. Cooper currently works as CEO of Truss Beverage Co., a joint venture between Molson-Coors Canada and Hexo.
Hexo Chairman Michael Munzar said Cooper’s two decades of experience in consumer-packaged goods and his “success in launching and growing Truss’ innovative portfolio to be the Canadian market leader in cannabis beverages, and experience working in the United States position him well to defend Hexo’s position as a market leader in Canada,” according to a statement.
For an interim period not to exceed six months, Cooper will continue simultaneously in his current role as CEO of Truss Beverages to ensure a smooth transition for the business, the company said. Shares of Hexo are down 47.3% this year, compared to a rise of 1% by the Cannabis ETF .
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