Terry Booth resigns as Aurora Cannabis' chief executive

(This is a developing story, so check back for updates.)

Terry Booth has resigned as chief executive of Aurora Cannabis, the Canadian multinational marijuana company he helped build from the ground up over the past seven years.

He becomes the latest in a string of high-profile CEOs who’ve departed cannabis firms since the start of the year.

His departure was first reported by Reuters.

Booth steered Aurora to become one of the biggest cannabis companies in the world, but shareholders grew restless as losses piled up and no clear pathway to profitability emerged.

He co-founded Aurora in 2013 when the Canadian federal government created a new regulatory regime for medical cannabis.

Booth invested 2.5 million Canadian dollars ($1.9 million) of his own money in the startup, and, according to regulatory filings, the value of his holdings in the company totaled roughly CA$159 million as of June 30, 2019.

However, Auroras stock has plunged 74% since then.

Aurora trades as ACB on theNew York Stock Exchangeand theToronto Stock Exchange.

Matt Lamers isMarijuana Business Dailys international editor, based near Toronto. He can be reached at[email protected].

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Originally posted on Terry Booth resigns as Aurora Cannabis' chief executive via Cannabis Industry News