NEWS BRIEF

‘Cannabis visionary’ Booth stepping down from board, Aurora says

Aurora Cannabis co-founder Terry Booth has left the company’s board of directors, months after stepping down as chief executive.

Aurora made the announcement Monday in a brief news release that described Booth’s departure from the board as a “retirement.”

“As one of the original cannabis visionaries, Terry leaves an enviable legacy in the form of Aurora Cannabis,” interim CEO Michael Singer said in a statement.

Booth stepped down as Aurora’s CEO in February, the latest in a wave of chief executives departing from cannabis producers.

Last week, Aurora said it was laying off 700 employees, including some executives, and closing five facilities as part of a corporate transformation plan.

In February, Aurora disclosed plans to shed close to 500 full-time positions.

Under Booth’s stewardship, the Alberta-based company spent roughly 4.5 billion Canadian dollars ($3.2 billion) on a spree of mergers and acquisitions from 2017 through 2019.

Aurora reported a net loss of CA$137 million in its most recent quarter.

Board President Steve Dobler is retiring from Aurora’s board effective June 30, the company announced earlier this month.

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