Canopy Growth Appoints Tom Stewart as Interim Chief Financial Officer Amid Strategic Push for Fiscal 2026 Goals
Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (Nasdaq: CGC), a globally recognized leader in the cannabis industry, has officially announced the appointment of Tom Stewart as its Interim Chief Financial Officer (CFO), effective immediately. This executive transition marks a pivotal moment for the company as it intensifies its focus on operational excellence, disciplined financial stewardship, and long-term sustainability as part of its broader Fiscal 2026 strategy.
The appointment follows the departure of Judy Hong, who served as Canopy Growth’s CFO since April 2022. Ms. Hong played an integral role in navigating the company through a critical period marked by capital restructuring efforts and financial recalibration. Under her financial stewardship, Canopy Growth implemented initiatives aimed at fortifying its capital structure, enhancing liquidity, and aligning financial operations with its evolving strategic priorities. The company expressed its gratitude for Ms. Hong’s contributions, citing her leadership as instrumental in laying the groundwork for future transformation.
An Experienced Leader Stepping into a Crucial Role
Tom Stewart brings more than two decades of comprehensive experience in corporate finance, accounting, and strategic financial planning to his new interim role. Since joining Canopy Growth in 2019 as Chief Accounting Officer, he has served as a key figure within the company’s financial leadership, helping to ensure compliance, transparency, and the successful implementation of sound financial practices.
Before his tenure at Canopy Growth, Stewart held a series of senior financial roles at Constellation Brands, Inc., a Fortune 500 company and one of the world’s largest premium wine and spirits businesses. His time at Constellation, which spanned a decade, provided him with hands-on exposure to performance-focused operations, capital discipline, and margin management in the fast-moving consumer packaged goods (CPG) sector.
Earlier in his career, Mr. Stewart also worked at PricewaterhouseCoopers (PwC), one of the world’s leading global professional services firms. A Certified Public Accountant (CPA) in the state of New York, Stewart brings the technical acumen and strategic insight necessary to support Canopy Growth as it enters a new operational phase.
A Strategic Move Toward Fiscal 2026 Goals
The interim CFO appointment is not just a routine executive reshuffle. It is closely tied to Canopy Growth’s ongoing execution of its Fiscal 2026 strategy — a comprehensive roadmap that emphasizes cost discipline, financial sustainability, and value-driven growth.
As part of this forward-looking strategy, the company is sharpening its operational priorities to become leaner, more agile, and more competitive in an increasingly complex global cannabis market. These goals include reducing operating costs, aligning capital allocation with high-potential growth segments, and streamlining product and operational pipelines. The strategy also calls for bolstering the company’s financial platform to support scalable, profitable growth in both domestic and international markets.
Given Stewart’s deep-rooted experience in finance functions that are aligned with these priorities — from financial planning and analysis (FP&A) to operational finance and audit — his appointment is viewed internally as a strategic fit. His leadership is expected to reinforce Canopy’s efforts to stabilize its financial foundation and build a more predictable, performance-led business model.
CEO Endorses Stewart’s Leadership in a Pivotal Phase
Luc Mongeau, Chief Executive Officer of Canopy Growth, offered strong support for Stewart’s elevation to the interim role, citing his financial expertise and operational perspective as critical assets for the organization at this juncture.
“Tom has been a core member of our finance leadership team and is the right person to step into this role at a critical time,” said Mongeau. “His background brings the right balance of financial rigor and operational insight to support our goals around efficiency, profitability, and long-term value creation.”
Mongeau’s comments reinforce the company’s commitment to creating value for shareholders by emphasizing execution, financial discipline, and sustainability over speculative growth. Stewart’s appointment is expected to ensure continuity in the finance function while the company pursues broader restructuring and transformation initiatives.
Stewart Outlines His Vision for Financial Stability and Growth
In his first remarks following the announcement, Tom Stewart expressed confidence in the company’s long-term prospects and underlined his dedication to financial discipline and execution.
“I’m proud to take on this role and support Canopy Growth as we move with purpose into our next phase,” Stewart stated. “I believe in the strength of this team and the long-term opportunity in the sector. My focus will be on disciplined execution, fundamentals, and building a strong financial platform as we pursue profitable growth.”
This approach reflects Canopy Growth’s increasing emphasis on building investor confidence by focusing on predictable financial performance and clear operational milestones. Stewart’s past success in embedding robust financial practices within large-scale organizations will be vital in leading Canopy through its next chapter.
Formal Search Underway for Permanent CFO
While Stewart has taken on the CFO position on an interim basis, the company has launched a formal executive search to identify a permanent candidate for the role. This search will consider both internal and external candidates, and is expected to emphasize candidates with proven experience in high-growth, performance-led sectors such as CPG, pharmaceuticals, or regulated industries like cannabis.
In the interim, Stewart’s deep familiarity with Canopy Growth’s financial systems, leadership team, and strategic priorities ensures continuity and stability during this transition period.
A Critical Moment for Canopy Growth and the Cannabis Industry
The appointment of Tom Stewart comes at a time when the broader cannabis sector is undergoing significant change. Regulatory uncertainty, market saturation, and evolving consumer preferences have prompted cannabis companies to reassess business models and reorient around profitability, compliance, and resilience.
In this climate, Canopy Growth’s pivot toward disciplined execution and operational efficiency represents an industry-wide shift away from rapid expansion at all costs. With operations spanning Canada, the U.S., and international markets, Canopy’s ability to navigate financial headwinds while positioning for future growth will require strong financial leadership — a role Stewart is uniquely equipped to fulfill.
The company’s ongoing transformation includes recent efforts to rationalize its portfolio, exit underperforming business segments, and focus on core competencies such as premium branded cannabis, medical cannabis, and cannabis-infused consumer products. Stewart’s interim appointment reflects a broader organizational alignment with these priorities, reinforcing Canopy’s goal of becoming a more focused, agile, and financially resilient enterprise.
As Canopy Growth advances toward its Fiscal 2026 goals, Tom Stewart’s leadership is expected to bring much-needed financial clarity and operational discipline. His appointment underscores the company’s commitment to building a high-performance culture centered on accountability, data-driven decision-making, and long-term value creation.
With a seasoned executive like Stewart guiding the financial strategy in the short term, and a comprehensive search underway for a permanent CFO, Canopy Growth appears poised to continue evolving as a mature, investor-focused company — one that is redefining its role in the global cannabis economy.
About Canopy Growth
Canopy Growth is a world-leading cannabis company dedicated to unleashing the power of cannabis to improve lives.
Through an unwavering commitment to consumers, Canopy Growth delivers innovative products from owned and licensed brands including Tweed, 7ACRES, DOJA, Deep Space, and Claybourne, as well as category defining vaporization devices by Storz & Bickel. In addition, Canopy Growth serves medical cannabis patients globally with principal operations in Canada, Europe and Australia.
Canopy Growth has also established a comprehensive ecosystem to realize the opportunities presented by the U.S. THC market through an unconsolidated, non-controlling interest in Canopy USA, LLC (“Canopy USA”). Canopy USA’s portfolio includes ownership of Acreage Holdings, Inc., a vertically integrated multi‑state cannabis operator with operations throughout the U.S. Northeast and Midwest, as well as ownership of Wana Wellness, LLC, The Cima Group, LLC, and Mountain High Products, LLC, a leading North American edibles brand, and majority ownership of Lemurian, Inc. , a California-based producer of high-quality cannabis extracts and clean vape technology.
At Canopy Growth, we’re shaping a future where cannabis is embraced for its potential to enhance well-being and improve lives. With high-quality products, a commitment to responsible use, and a focus on enhancing the communities where we live and work, we’re paving the way for a better understanding of all that cannabis can offer.
