Mongeau succeeds David Klein, who will continue in his role as CEO until Jan. 6. Klein will step down as a member of the board and will shift into a special advisor role until Aug. 31, 2025.

Together with the completed acquisition of approximately 75% of Jetty, Canopy USA aims to establish a brand-focused cannabis company in the U.S.

Until March 31 or until a successor is named, Klein will continue in his role as CEO and as a member of the company's Board of Directors. The board is in the process of securing a search firm to initiate a CEO selection process.

Canopy previously announced plans to acquire Wana and Jetty upon “federal permissibility” of THC in the U.S.