Aurora Cannabis promoted Miguel Martin to the role of CEO. Also, company officials warned investors to expect declining quarterly revenue and write-downs of up to 1.8 billion Canadian dollars ($1.37 billion) for the fourth-quarter results in two weeks. Martin was the former CEO of hemp company Reliva and joined Aurora as a chief commercial officer after it acquired Reliva earlier this year. Aurora now anticipates positive adjusted EBITDA in the second quarter, after Aurora had assured investors earlier this year it was “on a path to be EBITDA positive in Q1.” Under Martin’s leadership, Aurora said it expects to focus on growing market share “in key profitable Canadian consumer categories.” Protecting and enhancing “Aurora’s leading market share in Canadian medical (marijuana).” Growing its international medical marijuana business. “(Building) leading brands under Reliva in the US CBD market.” Aurora is among a number of Canadian cannabis firms unloading greenhouses after years of over-investment.
Marijuana Business Daily, 09/08/2020 11:45:07
Open article: https://mjbizdaily.com/aurora-cannabis-names-new-ceo-signals-revenue-decline-and-massive-write-downs/