Despite layoffs and losses, cannabis CEOs awarded millions in bonuses

The Globe and Mail (Canada)
Monday, October 11, 2021

canada cannabis industrialDespite stagnant revenue, layoffs, facility closings and big losses, the top executives of some of the largest cannabis companies in Canada were awarded millions in bonuses and performance stock grants on top of their sizable salaries in their most recent fiscal years, company filings show. The pay decisions at Canopy Growth Corp, Tilray Inc. (the former Aphria Inc.) and Aurora Cannabis Inc. show the companies are rewarding executives for minimizing cash losses and simply surviving in the Canadian weed industry. Canopy Growth chief executive officer David Klein received a cash bonus of US$1.72-million in addition to his base salary of US$975,000 for the fiscal year ending March 31, even as the company’s net losses grew to $1.7-billion in that time period.