(A version of this story first appeared on Marijuana Business Daily.)
Aurora Cannabis has promoted Miguel Martin to CEO, while warning investors to expect declining quarterly revenue and write-downs of up to 1.8 billion Canadian dollars ($1.37 billion) when it reports fourth quarter results in two weeks.
Martin, former CEO of hemp company Reliva, joined Aurora as chief commercial officer after it acquired Reliva earlier this year.
- Growing market share “in key profitable Canadian consumer categories.”
- Protecting and enhancing “Aurora’s leading market share in Canadian medical (marijuana).”
- Growing its international medical marijuana business.
- “(Building) leading brands under Reliva in the US CBD market.”
“Ultimately, Aurora believes that it is capable of supporting significantly higher levels of net revenue in the future without a corresponding level of growth in (selling, general and administrative expenses),” the company said.