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.)
- Compensation packages for board members ran from an average $335,000 for large companies to an average $26,000 for smaller ones.
- 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:
- 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.