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Tilray Adds a Former Goldman Sachs Executive to Its Team

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Tilray adds to its team

Early on March 13, Tilray (TLRY) announced that it appointed former Goldman Sachs executive Andrew Pucher as its chief corporate development officer. The stock was trading ~2.3% higher in the pre-market session. Canopy Growth (CGC) (WEED) was trading 1.6% higher, while HEXO (HEXO) rose 3% in the pre-market session.

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Pucher’s responsibilities

Pucher will oversee Tilray’s merger and acquisition and corporate investment duties. In particular, he will lead Tilray’s global corporate development activities. Pucher has previous experience in the cannabis industry. He served as the head of the Canadian Diversified Investment Banking division at Goldman Sachs. He also has experience in the lucrative US market. He worked in New York with Goldman Sachs’ Global Healthcare Investment Banking Group. He focused on the biopharmaceutical sector.

Tilray plans to reach a wide array of verticals in the cannabis sector including consumer goods, alcohol, and food and beverage. In the press release, Tilray’s CEO, Brendan Kennedy, stated that Pucher’s “transaction experience and industry knowledge will be valuable as we work to capitalize on the many strategic opportunities available to us and continue to pursue the disruptive potential of cannabis across industries including pharmaceuticals, alcohol, consumer goods, functional food and beverage, retail and nutraceuticals.”

Tilray is scheduled to report its fourth-quarter earnings next week. To learn more, read Tilray: What to Expect from Its Q4 Earnings Next Week.

Early on March 13, Tilray’s peer (MJ) Aurora Cannabis (ACB) announced that it appointed Nelson Peltz as its strategic adviser.

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