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ACB AND NELSON PELTZ PART WAYS

[Humanist]

Aurora Cannabis, Nelson Peltz ‘have concluded their relationship’

Sep 28, 2020/ 10 am

Aurora Cannabis and billionaire investor Nelson Peltz “have concluded their relationship,” a spokeswoman for the Alberta-based company confirmed to Marijuana Business Daily.

Peltz’s resignation was also announced in a press release today, along with the company’s annual general meeting scheduled for Nov. 12.
Peltz signed on as a strategic adviser in March 2019 to help Aurora lock in partnerships and expand internationally – a move that was heralded at the time as a major vote of confidence for the Canadian company.
Aurora lost over 3.5 billion Canadian dollars ($2.6 billion) during the time Peltz served as an advisor.

Peltz co-founded New York-based multibillion-dollar asset management firm Trian Fund Management. He is also director of fast-food holding company Wendy’s Company and Procter & Gamble.

Aurora brought in Peltz after competitors Canopy Growth and Cronos Group locked up multibillion-dollar investments from Global liquor giant Constellation Brands and Virginia-based Altria, respectively.
When Peltz joined, the Edmonton, Alberta-based company agreed to grant him options to purchase almost 20 million shares in the company at CA$10.34 apiece.

However, the stock price has fallen some 96% since then.
In an email to MJBizDaily, Aurora confirmed Peltz departure.
“Aurora confirms the company and Nelson Peltz have concluded their relationship,” according to the statement.
“This change is a direct result of Mr. Peltz’s decision to pursue other commitments and the company appreciates his valuable contributions.”
Earlier this month, Aurora elevated Miguel Martin as CEO.
Matt Lamers is Marijuana Business Daily’s international editor, based near Toronto. He can be reached at [e-mail].