Cann Group (ASX:CAN) has appointed Peter Koetsier as the new Chief Executive Officer.

He will commence in the role on January 16, 2023 and replace Peter Crock who announced on October 24, 2022 that he would be stepping down.

Mr Koetsier brings to Cann more than 30 years of general management, marketing and commercial leadership roles within global pharmaceutical companies.

He has an established track record of driving strong revenue growth in complex and changing environments.

He will be entitled to participate in the Cann Group short and long term incentive plans, and will receive 4.5 million Options under the Cann Group Limited Employee Option Scheme.

Following the announcement, shares of Cann Group (ASX:CAN) were up 2.44%.