David Goubert resigned as president and CEO of cannabis multistate operator Ayr Wellness.
Goubert was installed as president of Miami-based Ayr in October 2022 and appointed CEO in February 2023.
Ayr’s board of directors plans to conduct a search for a permanent CEO, according to a news release.
In the meantime, the board approved Steven Cohen to serve as interim CEO, effective immediately.
Cohen previously served as outside legal adviser to the company.
Cohen, who doesn’t have cannabis industry experience, is a founding member of Blue Raven, a legal advisory firm focused on providing strategic advice to businesses, corporate boards and executives. The New York-headquartered company also provides outside general counsel services.
Goubert is the latest executive to resign from Ayr.
In July, Jonathan Sandelman stepped down as director and executive chair.
Ayr said in its second-quarter earnings report in August that earnings were down slightly, dropping 0.6% from the first quarter to $117.3 million.
Although the MSO succeeded in reducing its expenses, Ayr’s net losses grew to $38 million in the second quarter from $29 million a year ago.
At the time, Goubert said the company would continue to focus on “laying the groundwork Ayr’s next phase of growth.”
Ayr’s shares trade as AYR.A on the Canadian Securities Exchange and AYRWF on the over-the-counter markets.
