Aurora Cannabis Sees Co-Founder Terry Booth Resign From Board

Ex-CEO of Aurora Cannabis (TSX: ACB) (NYSE: ACB) Terry Booth has officially left the building. This morning, Aurora announced that Booth has retired from his role as a director with the company, effective last Friday, June 26. The retirement marks the final end to an era for Aurora, with Aurora proceeding for the first time without its flagship co-founder.

Commenting on Booth’s retirement, interim CEO and executive chairman Michael Singer commented, “As one of the original cannabis visionaries, Terry leaves an enviable legacy in the form of Aurora Cannabis. He helped set the table for the Company to lead in Canada and globally, and we continue to execute our plan to do so profitably.”

The retirement was anticipated as of late, given that Booth has been consistently selling his stake in the company in which he helped found and develop. His most recent transaction took place on June 15, with the director having sold off 114,000 shares of the company for gross proceeds of $2.0 million, days before major cost cutting initiatives were announced, including the closure of five facilities.

As of his final filings, Booth had a total of 79,571 common shares of the company in which he owned directly or indirectly remaining in his portfolio, along with 13,333 warrants, 212,407 options, and 31,828 restricted share units.

Aurora Cannabis last traded at $12.47 on the NYSE.

Information for this briefing was found via Sedar and Aurora Cannabis. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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