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TORONTO -- Canopy Growth Corp. says Bruce Linton is stepping down as co-chief executive and as a board member, effective immediately.

The cannabis company says Mark Zekulin will become the sole CEO and will work with the board to begin a search to find a new leader to guide the company in its next phase.

Rade Kovacevic, who has been leading the company's Canadian operations and recreational strategy, was also named president.

Linton, who has been the public face of the company, says the board decided, and he agreed, that his turn is over.

The board also appointed John Bell to replace Linton as chairman. Bell has served on the board as lead director for five years.

Canopy was founded in 2013 and has grown to become a leader in medical and recreational cannabis. The company recently received a $5 billion investment from alcohol company Constellation Brands.