Ahead of the roughly 30% of workers in the sector who’ve lost their jobs in the last year, more than a third of Canadian cannabis CEOs left their posts in 2019, according to a report by executive research firm Bedford.
- The report found the average large-cap LP paid CEOs $1.7M, while small-cap LPs paid CEOs an average of $226,000. The highest paid CEO was Tilray’s Brendan Kennedy, paid $31,817,459, almost all of it in equity. (Full top-10 list here.)
Twitter–@_deepakanand - Compensation packages for board members ran from an average $335,000 for large companies to an average $26,000 for smaller ones.
Cannabis Retailer - Thanks to equity-based compensation, former prime minister Brian Mulroney (who inaugurated Canada’s war against drugs in 1986) made $13.9M from his position on the board of U.S.-based Acreage Holdings.
Washington Post, GrowthOp
Some Other Numbers:
Sales of cannabis products were up 5.5% for the first quarter of 2020, with Q1 2020 household expenditure on cannabis jumping to a record $7.26B from $6.88B last quarter.
Twitter–@itsdgc
Legal cannabis (both REC and MED) contributed $2.3B to the total of Canada’s realized net farm income.
Twitter–@itsdgc, MJ Biz Daily
- Without cannabis, total farm cash receipts would have risen only 2.9% (about average). Instead, the totals increased 5.7% to $66.1B.
Oak Bay News - Non-cannabis farmers, whose revenues are faltering, questioned the value of including cannabis among the category of “agriculture,” which usually refers only food or fibre.
iPolitics