HEXO shareholder calls for board changes as share price sinks below a dollar

Posted by & filed under Communication, Control, Decision Making, Ethics & Social Responsibility, Leadership, Management, Strategy.

Description: Canadian cannabis company HEXO Corp., which has seen its share price drop precipitously in recent months as it struggled with debt taken on to fund a series of acquisitions, is facing a potential proxy battle with a shareholder seeking to replace five directors.

Source: FinancialPost.com

Date: Feb 03, 2022

Link: https://financialpost.com/cannabis/cannabis-business/shareholder-calls-for-board-changes-at-hexo-after-share-price-sinks-below-a-dollar

Questions for discussion:

  • What are the reasons presented for the proxy battle to replace the board of directors?
  • Do you believe their strategic decisions were bad and therefore, their replacement justified?
  • What would you advise the management and owners at this time?