Cronos Group founder Mike Gorenstein returns as CEO, replaces retiring Kurt Schmidt

Cronos Group Inc.

Gorenstein appointed President and CEO effective March 21, 2022; continues as Chairman.
Kurt Schmidt retired as President and CEO, will assist transition through April 6, 2022.
Gorenstein receives $775k base salary, 150% target bonus, and 3M RSUs vesting in 3 years.
Gorenstein's prior-year bonuses contingent on conclusion of SEC investigation without penalty.
Schmidt gets $520k lump sum plus benefits; $675k bonus tied to SEC investigation outcome.

item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Kurt Schmidt

President and Chief Executive Officer

CRON · Cronos Group Inc.

Effective: 2022-03-21
Successor: Michael Gorenstein
Filed: March 21, 2022, 7:59 PM ET

Kurt Schmidt retired from the positions of President and Chief Executive Officer of Cronos Group.

Appointed

Michael Gorenstein

President and Chief Executive Officer

CRON · Cronos Group Inc.

Effective: 2022-03-21
Filed: March 21, 2022, 7:59 PM ET

appointed Michael Gorenstein as President and Chief Executive Officer of Cronos Group, effective as of March 21, 2022

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Kurt Schmidt retired as President and Chief Executive Officer at Cronos Group Inc..

Action: retired
Role: President and Chief Executive Officer

Exact text from the filing

Kurt Schmidt retired from the positions of President and Chief Executive Officer of Cronos Group.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Michael Gorenstein was appointed as President and Chief Executive Officer at Cronos Group Inc..

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

appointed Michael Gorenstein as President and Chief Executive Officer of Cronos Group, effective as of March 21, 2022

View on SEC.gov

Cronos Group Inc. filing history →

Source: SEC EDGAR

accession 0001656472-22-000065

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