AYR Wellness Announces Changes to Management
AYR Wellness (CSE: AYR.A, OTCQX: AYRWF) announced significant leadership changes, with Steven M. Cohen stepping down as Interim Chief Executive Officer effective April 04, 2025. The board has appointed Scott Davido as the new Interim CEO.
Cohen, who served as Interim CEO since September 18, 2024, will remain as an advisor to support the transition. Davido joins from Ankura Consulting Group, where he served as senior managing director. His extensive experience includes previous roles as Interim CEO of DCL , CEO of Advantage Rent a Car, and CEO of Experience.com, along with senior executive positions at Calpine and NRG Energy.
Board Chairman Louis Karger acknowledged Cohen's contributions in initiating organizational evolution and welcomed Davido's appointment, citing his track record in positioning companies for sustained success and executing strategic initiatives.
AYR Wellness (CSE: AYR.A, OTCQX: AYRWF) ha annunciato significativi cambiamenti nella leadership, con Steven M. Cohen che si dimette da Amministratore Delegato ad Interim con effetto dal 4 aprile 2025. Il consiglio ha nominato Scott Davido come nuovo Amministratore Delegato ad Interim.
Cohen, che ha ricoperto il ruolo di Amministratore Delegato ad Interim dal 18 settembre 2024, rimarrà come consulente per supportare la transizione. Davido proviene da Ankura Consulting Group, dove ha ricoperto il ruolo di direttore generale senior. La sua vasta esperienza include ruoli precedenti come Amministratore Delegato ad Interim di DCL, Amministratore Delegato di Advantage Rent a Car e Amministratore Delegato di Experience.com, insieme a posizioni dirigenziali senior presso Calpine e NRG Energy.
Il Presidente del Consiglio Louis Karger ha riconosciuto i contributi di Cohen nell'avvio dell'evoluzione organizzativa e ha accolto con favore la nomina di Davido, citando il suo curriculum nel posizionare le aziende per un successo sostenuto e nell'esecuzione di iniziative strategiche.
AYR Wellness (CSE: AYR.A, OTCQX: AYRWF) anunció cambios significativos en la dirección, con Steven M. Cohen renunciando como Director Ejecutivo Interino a partir del 4 de abril de 2025. La junta ha nombrado a Scott Davido como el nuevo Director Ejecutivo Interino.
Cohen, quien ha sido Director Ejecutivo Interino desde el 18 de septiembre de 2024, permanecerá como asesor para apoyar la transición. Davido proviene de Ankura Consulting Group, donde se desempeñó como director gerente senior. Su amplia experiencia incluye roles anteriores como Director Ejecutivo Interino de DCL, Director Ejecutivo de Advantage Rent a Car y Director Ejecutivo de Experience.com, junto con puestos ejecutivos senior en Calpine y NRG Energy.
El Presidente de la Junta, Louis Karger, reconoció las contribuciones de Cohen en el inicio de la evolución organizativa y dio la bienvenida al nombramiento de Davido, citando su historial en posicionar a las empresas para un éxito sostenido y ejecutar iniciativas estratégicas.
AYR Wellness (CSE: AYR.A, OTCQX: AYRWF)는 2025년 4월 4일부로 스티븐 M. 코헨이 임시 CEO 직에서 물러나는 중요한 리더십 변화를 발표했습니다. 이사회는 스콧 다비도를 새로운 임시 CEO로 임명했습니다.
코헨은 2024년 9월 18일부터 임시 CEO로 재직해 왔으며, 전환을 지원하기 위해 고문으로 남을 것입니다. 다비도는 앙쿠라 컨설팅 그룹에서 수석 관리 이사로 근무했습니다. 그의 광범위한 경험에는 DCL의 임시 CEO, Advantage Rent a Car의 CEO, Experience.com의 CEO로서의 이전 역할과 Calpine 및 NRG Energy의 고위 경영직이 포함됩니다.
이사회 의장 루이스 카거는 조직의 진화를 시작한 코헨의 기여를 인정하고, 지속 가능한 성공을 위한 기업 포지셔닝과 전략적 이니셔티브 실행에서의 그의 실적을 언급하며 다비도의 임명을 환영했습니다.
AYR Wellness (CSE: AYR.A, OTCQX: AYRWF) a annoncé des changements significatifs au sein de sa direction, Steven M. Cohen démissionnant de son poste de Directeur Général par Intérim à compter du 4 avril 2025. Le conseil d'administration a nommé Scott Davido comme nouveau Directeur Général par Intérim.
Cohen, qui a occupé le poste de Directeur Général par Intérim depuis le 18 septembre 2024, restera en tant que conseiller pour soutenir la transition. Davido rejoint l'entreprise en provenance d'Ankura Consulting Group, où il était directeur général senior. Son expérience considérable inclut des rôles précédents en tant que Directeur Général par Intérim de DCL, Directeur Général d'Advantage Rent a Car et Directeur Général d'Experience.com, ainsi que des postes de direction chez Calpine et NRG Energy.
Le Président du Conseil, Louis Karger, a reconnu les contributions de Cohen dans l'initiation de l'évolution organisationnelle et a salué la nomination de Davido, citant son parcours dans le positionnement des entreprises pour un succès durable et l'exécution d'initiatives stratégiques.
AYR Wellness (CSE: AYR.A, OTCQX: AYRWF) gab bedeutende Veränderungen in der Führung bekannt, wobei Steven M. Cohen am 4. April 2025 als Interims-CEO zurücktritt. Der Vorstand hat Scott Davido als neuen Interims-CEO ernannt.
Cohen, der seit dem 18. September 2024 als Interims-CEO tätig ist, wird als Berater bleiben, um den Übergang zu unterstützen. Davido kommt von der Ankura Consulting Group, wo er als Senior Managing Director tätig war. Seine umfassende Erfahrung umfasst frühere Rollen als Interims-CEO von DCL, CEO von Advantage Rent a Car und CEO von Experience.com sowie leitende Positionen bei Calpine und NRG Energy.
Der Vorsitzende des Vorstands, Louis Karger, erkannte Cohens Beiträge zur Einleitung der organisatorischen Entwicklung an und begrüßte Davidos Ernennung, indem er dessen Erfolgsbilanz bei der Positionierung von Unternehmen für nachhaltigen Erfolg und der Umsetzung strategischer Initiativen hervorhob.
- Appointment of experienced executive Scott Davido as Interim CEO with proven track record in company transitions
- Continuity maintained through former Interim CEO staying on as advisor
- Second interim CEO appointment in less than a year indicates potential leadership instability
- Frequent management changes may impact strategic execution and operational consistency
MIAMI, April 04, 2025 (GLOBE NEWSWIRE) -- AYR Wellness Inc. (“AYR” or the “Company”) (CSE: AYR.A, OTCQX: AYRWF) a leading vertically integrated U.S. multi-state cannabis operator, announced that, effective today, Steven M. Cohen has stepped down as the Interim Chief Executive Officer of the Company. The AYR board of directors (the “Board”) has appointed Scott Davido as Interim Chief Executive Officer. Mr. Cohen served as Interim Chief Executive Officer from September 18, 2024, and will remain engaged as an advisor to the Company to support this transition.
Mr. Davido is a senior managing director at Ankura Consulting Group, a global advisory and business consulting firm. He previously served in the same role at FTI Consulting, leading companies in financial and operational transitions. Among his roles, Mr. Davido has previously served as Interim CEO of DCL Corporation, CEO of Advantage Rent a Car, and CEO of Experience.com (formerly Social Survey). Mr. Davido has also held senior executive roles at Calpine Corporation and NRG Energy.
“The Board would like to extend our thanks to Steven for his time as interim CEO of AYR, during which he kicked off a crucial period of evolution for the organization, and for all of his ongoing support for the Company. We appreciate Steven’s willingness to stay on as an advisor to the Company as we continue to execute on our strategic initiatives,” said Louis Karger, Chairman of the Board. “We also want to welcome Scott as AYR’s new interim CEO, bringing with him a track record of positioning companies for sustained success and executing on strategic initiatives. With this leadership transition, we look forward to AYR taking its next steps.”
“I have appreciated the opportunity to lead AYR over the past few months, working closely with the leadership team and the Board to implement key changes needed to set the Company up for future success,” said Mr. Cohen. “As I hand the Interim CEO role to Scott, I do so with the utmost confidence that AYR is in the right hands, and I look forward to supporting Scott and the broader Company as a strategic advisor.”
“I am excited to join AYR and I look forward to working with the Board, the leadership team and all AYR associates to develop and implement a series of strategic, operational and financial initiatives to take the business to a new level of success,” said Mr. Davido.
Forward-Looking Statements
Certain statements contained in this news release may include “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws (“forward-looking statements”). Forward-looking statements are often, but not always, identified by the use of words such as “target”, “expect”, “anticipate”, “believe”, “foresee”, “could”, “would”, “estimate”, “goal”, “outlook”, “intend”, “plan”, “seek”, “will”, “may”, “tracking”, “pacing” and “should” and similar expressions or words suggesting future outcomes. This news release includes forward-looking statements pertaining to, among other things, AYR’s future leadership and management. Numerous risks and uncertainties could cause the actual events and results to differ materially from the estimates, beliefs and assumptions expressed or implied in the forward-looking statements. Forward-looking statements are based upon known and unknown risks and uncertainties that may cause actual results to differ materially from those anticipated. AYR has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
About AYR Wellness Inc.
AYR is a vertically integrated, U.S. multi-state cannabis business. The Company operates simultaneously as a retailer with 90+ licensed dispensaries and a house of cannabis CPG brands.
AYR is committed to delivering high-quality cannabis products to its patients and customers while acting as a Force for Good for its team members and the communities that the Company serves. For more information, please visit www.ayrwellness.com.
Company/Media Contact:
Robert Vanisko
VP, Public Engagement
T: (786) 885-0397
Email: comms@ayrwellness.com
Investor Relations Contact:
Sean Mansouri, CFA
Elevate IR
T: (786) 885-0397
Email: ir@ayrwellness.com
FAQ
When did Scott Davido become the new Interim CEO of AYR Wellness (AYRWF)?
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What is Scott Davido's professional background before joining AYRWF?
What role will Steven Cohen maintain with AYRWF after stepping down as Interim CEO?
