CRON Dismisses VP Controller, States No Impact on Financial Controls

Rhea-AI Filing Summary

Cronos Group Inc. announced the immediate termination for cause of Lloyd Wilson, who served as Vice President, Controller and Principal Accounting Officer. The company explicitly stated that Wilson's termination was not connected to Cronos Group's financial or operating results, internal controls, or any disagreements regarding the company's financial reporting practices.

Positive

• Company provided clear assurance that termination is not related to financial results or controls
• Transparent disclosure about senior executive departure demonstrates strong corporate governance

Negative

• Immediate termination for cause of Principal Accounting Officer indicates serious personnel issue

Insights

Corporate Governance Analyst

Immediate executive termination warrants attention but company provides key assurances on financial integrity.

The abrupt termination of a senior accounting officer typically raises red flags, but Cronos Group has taken the important step of explicitly stating that the dismissal is unrelated to financial results, controls, or reporting practices. This proactive disclosure helps maintain transparency and mitigate potential market concerns.

While the specific cause for termination remains undisclosed, the company's clear statement distancing the event from financial matters suggests this is likely a personnel or conduct issue rather than one affecting corporate financial integrity.

000165647200016564722025-08-292025-08-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 29, 2025

CRONOS GROUP INC.

(Exact name of registrant as specified in its charter)

British Columbia, Canada			001-38403			N/A
(State or other jurisdiction			(Commission			(I.R.S. Employer
of incorporation)			File Number)			Identification No.)

4491 Concession Rd 12
Stayner, Ontario						L0M 1S0
(Address of principal executive offices)						(Zip Code)

Registrant’s telephone number, including area code: (416) 504-0004

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common Shares, no par value			CRON			The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02.    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On August 29, 2025, Cronos Group Inc. (the “Company”) terminated Lloyd Wilson, the Company’s Vice President, Controller and Principal Accounting Officer, for cause and effective immediately. Mr. Wilson’s termination was not related to the Company’s financial or operating results or internal controls, or to any disagreements or concerns regarding the Company’s financial or reporting practices or internal controls.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

						CRONOS GROUP INC.
Dated: August 29, 2025						By:			/s/ Michael Gorenstein
									Name: Michael Gorenstein
									Title: President and Chief Executive Officer

FAQ

Why was Cronos Group's (CRON) Principal Accounting Officer terminated?

Lloyd Wilson was terminated for cause effective immediately on August 29, 2025. The specific reason was not disclosed, but the company stated it was not related to financial results, operating results, internal controls, or financial reporting practices.

Does the termination affect Cronos Group's (CRON) financial reporting or controls?

No. The company explicitly stated that the termination was not related to financial or operating results, internal controls, or any disagreements regarding financial reporting practices.

What was Lloyd Wilson's role at Cronos Group (CRON)?

Lloyd Wilson served as the company's Vice President, Controller and Principal Accounting Officer prior to his termination.

When did the termination take effect at Cronos Group (CRON)?

The termination was effective immediately on August 29, 2025.