Aurora Cannabis (TSX: ACB) is reporting this morning that it is replacing its chief financial officer in favor of an executive with decades of experience working for a leading multinational pharmaceutical company.

Glenn Ibbott, who has served in the role of CFO with Aurora since 2017, will be leaving the company’s leadership team effective February 21. Taking his place will be that of Simona King, a former executive from Bristol Myers-Squibb. King will be taking on the role following a 20 year career with the pharmaceutical giant, while Ibbott is expected to remain in an advisory role for several months to enable a smooth transition.

The change in leadership follows Aurora earlier this month reporting net revenue of $64.4 million for the fiscal third quarter of 2024, along with Adjusted EBITDA of $4.3 million.

Aurora meanwhile has also today completed a ten to one reverse split of its shares, which was conducted in an effort to meet minimum listing requirements for the Nasdaq. The company will have an estimated 47.6 million shares outstanding as a result.

Aurora Cannabis last traded at $0.52 on the TSX.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.