Skip to content
Subscriber Only

Aurora Cannabis CEO Departs, 500 Jobs Cut, Credit Line Reduced

  • Executive Chairman Michael Singer will become interim CEO
  • Credit facility reduced by C$141.5 million; shares fall
Terry Booth

Terry Booth

Photographer: Cole Burston/Bloomberg

Aurora Cannabis Inc., struggling with a cash crunch and a slumping stock price, announced the departure of its CEO, the termination of about 500 employees and a significant reduction in its credit facility.

Chief Executive Officer Terry Booth, who founded the Canadian pot company in 2013, will retire but will remain a director on the board, the company said Thursday in a statement. He’ll be replaced on an interim basis by Executive Chairman Michael Singer.