Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. OnJune 14, 2021 ,Cronos Group Inc. (the "Company") appointedCarlos Cortez to the position of Vice President, Controller, which includes serving as the Company's principal accounting officer, effective as ofJune 14, 2021 . OnJune 8, 2021 , the Company determined thatPuneet Mathur , the Company's Vice President, Controller, who served as the Company's principal accounting officer untilJune 14, 2021 , will separate from the Company, effective as ofJuly 30, 2021 . Prior to joining the Company,Mr. Cortez , age 48, was the Corporate Controller of SharpSpring, Inc., a publicly traded cloud-based marketing technology company, sinceApril 2021 . Over his career,Mr. Cortez has held various positions in the public and private sectors. He was the Senior Finance Director - Record to Report for Discovery, Inc., a publicly traded global media company, fromAugust 2019 untilDecember 2020 ; the Corporate Controller for Malibu Boats, Inc., a publicly traded manufacturer of recreational powerboats, fromOctober 2013 untilJanuary 2019 ; and an independent consultant for various companies fromFebruary 2019 untilAugust 2019 .Mr. Cortez also held various roles as an auditor, including as an audit manager, forKPMG LLP fromAugust 2002 untilOctober 2008 .Mr. Cortez received a Bachelor's Degree in Business Administration in Accounting fromFlorida Atlantic University and a Bachelor's Degree in Business Administration in Finance fromFlorida International University .Mr. Cortez is a Certified Public Accountant. In connection with his appointment,Mr. Cortez will receive an annual base salary of$275,000 and will be eligible for an annual target bonus opportunity of 30% of annual base salary and an annual long-term target incentive opportunity of 30% of annual base salary.Mr. Cortez will also be eligible to participate in employee benefit programs ofCronos USA Client Services LLC , a wholly owned subsidiary of the Company, on the same terms as other similarly situated employees.
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