Aurora Cannabis appoints new chief financial officer, consolidates shares

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Aurora Cannabis appointed Simona King, a veteran executive of multinational pharmaceutical company Bristol Myers Squibb, as chief financial officer.

The Canadian company also said in a Tuesday news release that it has completed its share consolidation.

King takes over from Glen Ibbott, who was one of the longest-serving executives of Edmonton, Alberta-headquartered Aurora.

The company said in the release that Ibbott stepped down “to pursue new opportunities” and will remain in an advisory role over the next few months.

“Since 2017, Glen has dedicated immeasurable time, energy, and passion to shaping Aurora into a leading medical cannabis company; and we have been fortunate to have his leadership over the years as we navigated this emerging industry,” Aurora CEO Miguel Martin said in a statement.

“We wish him all the best for his future endeavors.”

Aurora has focused on the medical side of the cannabis industry since appointing Martin as CEO in late 2020.

In 2021, the company appointed to its board Theresa Firestone, who helped launch Shoppers Drug Mart’s medical cannabis business.

She previously held positions at pharmaceutical and biotechnology firm Pfizer.

Aurora said in late January it planned to consolidate its shares on a 10-to-1 basis to restore compliance with the Nasdaq’s minimum bid-price requirement and ensure continued access to a range of institutional investors.

The plan cut Aurora’s outstanding shares from 475,903,822 to 47,590,382.

Aurora shares trade on the Toronto Stock Exchange and Nasdaq.