OTTAWA, Oct. 18, 2021 – PRESS RELEASE – HEXO Corp. announced the departure of Sébastien St-Louis, co-founder and CEO, effective immediately, as the company completes a strategic reorganization.
"On behalf of the entire organization, I would like to thank Sébastien for his tremendous impact on the Canadian cannabis industry. Through his years of dedication, he has helped build HEXO into a market leader in Canada," said Dr. Michael Munzar, chair of the board. “The board has established a Special Committee for Succession to identify a new CEO with the experience to defend HEXO's position as a market leader in Canada and secure our place as a top-three global cannabis company."
The company's next leader will be well-positioned to integrate HEXO's recent transformative acquisitions and leverage the company's lean production capabilities, solid brands and robust product offering to lead HEXO through its next phase of strategic evolution.
"Building HEXO from the ground up to become No. 1 in Canada has been the highlight of my career," St-Louis said. "Without question, HEXO's future is bright—I am so proud of the team we established, the brands we launched and the loyalty our customers have shown us. As a significant shareholder I look forward to the company’s next exciting stage of growth."
The board’s Special Committee for Succession is in advanced discussions with a preferred CEO candidate and expects to make an announcement in the coming days.
HEXO also announced the resignation of company Chief Operating Officer Donald Courtney and thanks him for his significant contributions over the last three years. Through his leadership, the company has significantly improved its operational excellence by increasing scale and automation. Don will remain as COO until a suitable replacement is identified.
