Aurora Cannabis Inc. (NYSE: ACB) shares were dropping Thursday following the announcement that co-founder and CEO Terry Booth will retire.
Aurora, an early darling of the cannabis industry, said in a press release that Executive Chairman Michael Singer will become interim CEO.
BNN Bloomberg had reported earlier in the day that the company would cut its workforce by about 10%.
In the statement announcing Booth's retirement, the company also laid out a plan to increase the size of its board, and said it was undertaking a "business transformation plan."
"These combined changes are consistent with, and evidence of Aurora's commitment to, achieving positive EBITDA and cash flow as rapidly as …
Full story available on Benzinga.com