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Aurora Cannabis Inc. (NYSE: ACB) (TSX:ACB) confirmed co-founder Steve Dobler will no longer serve as the company's president and director starting June 30.
According to Tuesday's press release, Dobler decided to retire from the positions he held since December 2014.
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The company's executive chairman and CEO Michael Singer praised Dobler thanking him for his contributions "on behalf of our Board of Directors and management team."
"His keen business insight and unparalleled passion for the company will be greatly missed," said Singer. "Steve's decision to retire and help streamline our leadership team further supports the objectives of our business transformation plan as we remain focused on driving Aurora to become a profitable and robust global cannabis company."
The board of the Edmonton, Alberta-headquartered company now counts nine directors, including seven of them who remain independent.
Aurora's portfolio features nine brands.
Earlier this year, the company obtained a license from European Union Good Manufacturing Practice for its Bradford, Ontario-based River production facility.
Aurora also confirmed that German regulators approved the recommencement of sales following a last year's suspension on particular products.
Last month Aurora said it would purchase CBD platform Reliva for $40 million in its common shares.
The deadline for the finalization of the transaction is June.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.