Cannabis company Acreage names former Procter & Gamble exec as CEO

Acreage Holdings Inc.
ACRHF,
-0.46%
on Friday said it’s promoting its chief operating officer Dennis Curran to chief executive officer as of July 1. Curran joined the New York-based cannabis company in 2022 after previously working in executive positions at Procter & Gamble Co.
PG,
+1.02%
and GSK Consumer Health in sales, distribution and marketing. Acreage CEO Peter Caldini will resign on June 30. Acreage is combining with Jetty Extracts and Wana Brands to form Canopy USA LLC as the U.S.-unit of Canopy Growth Corp.
CGC,
-0.01%.
Last week, Canopy Growth Corp.
CGC,
-0.01%
filed a revised proxy statement with the U.S. Securities and Exchange Commission updating its strategy to accelerate entry to the U.S. cannabis industry through a U.S.-domiciled Canopy USA. Acreage stock is down about 47% in 2023, compared to a 23% drop by the AdvisorShares Pure U.S. Cannabis ETF
MSOS,
-2.53%.