This week Aurora Cannabis (ACB - Get Rating) appointed Miguel Martin, President of Aurora USA and Head of Reliva, to Chief Commercial Officer of Aurora, effective immediately. Mr. Martin will replace Darren Karasiuk who has held this position at Aurora since February 2019.

Martin has worked in the consumer-packaged goods industry for over 25 years. He joined Aurora from Reliva where he served as Chief Executive Officer. He was previously President of Logic Technology and Senior Vice President and General Manager of Altria Sales & Distribution. Martin has deep experience operating in highly regulated industries which should serve him well ay Aurora.

Michael Singer, Executive Chairman and Interim CEO of Aurora said “This appointment allows us to take full advantage of Miguel’s depth of international CPG experience to drive Aurora’s revenues and brand strength in our global core markets.”

I feel that this appointment makes sense for ACB. The company continues to restructure and implement its business transformation plan. It is taking measures to reduce costs and hopefully become profitable by the first quarter of 2021.

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ACB shares were trading at $12.10 per share on Wednesday afternoon, down $0.32 (-2.58%). Year-to-date, ACB has declined -53.32%, versus a -1.37% rise in the benchmark S&P 500 index during the same period.

About the Author: Aaron Missere

Aaron is an experienced investor who is also the CEO of Departures Capital. His primary focus is on the cannabis industry. He also hosts a weekly show on YouTube about marijuana stocks. Learn more about Aaron’s background, along with links to his most recent articles. More...

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