AYR Wellness Appoints George Denardo as President
AYR Wellness (CSE: AYR.A, OTCQX: AYRWF) has announced the promotion of George Denardo from Chief Operating Officer to President. In his expanded role, Denardo will oversee all company-wide operations, including retail, wholesale, purchasing, marketing, cultivation, and manufacturing.
Under his previous position, Denardo has made significant contributions to AYR by improving cultivation and production metrics, streamlining the brand portfolio, and developing a platform for new product launches. The appointment comes at what the company describes as a pivotal time in the cannabis industry, with Denardo emphasizing the importance of efficient operations and value generation from existing footprints.
Meanwhile, AYR's Board of Directors continues its search for a permanent CEO, having engaged True Search to lead the recruitment process. Steven M. Cohen continues to serve as Interim CEO.
AYR Wellness (CSE: AYR.A, OTCQX: AYRWF) ha annunciato la promozione di George Denardo da Chief Operating Officer a Presidente. Nel suo nuovo ruolo, Denardo supervisionerà tutte le operazioni dell'azienda, inclusi retail, wholesale, acquisti, marketing, coltivazione e produzione.
Sotto la sua precedente carica, Denardo ha apportato significativi contributi ad AYR migliorando le metriche di coltivazione e produzione, semplificando il portafoglio del marchio e sviluppando una piattaforma per i lanci di nuovi prodotti. La nomina arriva in un momento che l'azienda definisce cruciale per l'industria della cannabis, con Denardo che sottolinea l'importanza di operazioni efficienti e generazione di valore dai footprint esistenti.
Nel frattempo, il Consiglio di Amministrazione di AYR continua la sua ricerca di un CEO permanente, avendo ingaggiato True Search per guidare il processo di reclutamento. Steven M. Cohen continua a servire come CEO ad interim.
AYR Wellness (CSE: AYR.A, OTCQX: AYRWF) ha anunciado el ascenso de George Denardo de Director de Operaciones a Presidente. En su nuevo cargo, Denardo supervisará todas las operaciones de la empresa, incluyendo ventas al por menor, al por mayor, compras, marketing, cultivo y fabricación.
Bajo su puesto anterior, Denardo ha hecho contribuciones significativas a AYR al mejorar las métricas de cultivo y producción, simplificar la cartera de la marca y desarrollar una plataforma para el lanzamiento de nuevos productos. La designación se produce en un momento que la empresa describe como crucial para la industria del cannabis, con Denardo enfatizando la importancia de operaciones eficientes y generación de valor a partir de las huellas existentes.
Mientras tanto, la Junta de Directores de AYR continúa su búsqueda de un CEO permanente, habiendo contratado a True Search para liderar el proceso de reclutamiento. Steven M. Cohen continúa sirviendo como CEO interino.
AYR Wellness (CSE: AYR.A, OTCQX: AYRWF)는 조지 드나르도를 최고 운영 책임자에서 사장으로 승진시켰다고 발표했습니다. 그의 새로운 역할에서 드나르도는 소매, 도매, 구매, 마케팅, 재배 및 제조를 포함한 회사 전체의 운영을 감독할 것입니다.
이전 직책에서 드나르도는 재배 및 생산 지표를 개선하고, 브랜드 포트폴리오를 간소화하며, 신제품 출시를 위한 플랫폼을 개발하는 등 AYR에 중요한 기여를 해왔습니다. 이 임명은 회사가 대마초 산업의 중대한 시점으로 설명하는 시점에 이루어졌으며, 드나르도는 효율적인 운영의 중요성과 기존 사업장에서의 가치 창출을 강조했습니다.
한편, AYR의 이사회는 영구 CEO를 찾기 위한 노력을 계속하고 있으며, True Search에 채용 프로세스를 이끌도록 요청했습니다. 스티븐 M. 코헨은 계속해서 임시 CEO로 재직하고 있습니다.
AYR Wellness (CSE: AYR.A, OTCQX: AYRWF) a annoncé la promotion de George Denardo de Directeur des opérations à Président. Dans son rôle élargi, Denardo supervisera toutes les opérations de l'entreprise, y compris le commerce de détail, le commerce de gros, les achats, le marketing, la culture et la fabrication.
Dans son précédent poste, Denardo a apporté des contributions significatives à AYR en améliorant les indicateurs de culture et de production, en rationalisant le portefeuille de marques et en développant une plateforme pour le lancement de nouveaux produits. Cette nomination intervient à un moment que l'entreprise décrit comme crucial pour l'industrie du cannabis, Denardo soulignant l'importance d'opérations efficaces et de la génération de valeur à partir des empreintes existantes.
Pendant ce temps, le Conseil d'administration d'AYR poursuit sa recherche d'un PDG permanent, ayant engagé True Search pour diriger le processus de recrutement. Steven M. Cohen continue de servir en tant que PDG par intérim.
AYR Wellness (CSE: AYR.A, OTCQX: AYRWF) hat die Beförderung von George Denardo vom Chief Operating Officer zum Präsidenten bekannt gegeben. In seiner erweiterten Rolle wird Denardo alle unternehmensweiten Operationen, einschließlich Einzelhandel, Großhandel, Einkauf, Marketing, Cultivation und Herstellung, leiten.
In seiner vorherigen Position hat Denardo bedeutende Beiträge zu AYR geleistet, indem er die Kennzahlen für Anbau und Produktion verbessert, das Markenportfolio gestrafft und eine Plattform für die Einführung neuer Produkte entwickelt hat. Die Ernennung erfolgt zu einem Zeitpunkt, den das Unternehmen als entscheidend für die Cannabisindustrie beschreibt, wobei Denardo die Bedeutung effizienter Operationen und die Wertschöpfung aus bestehenden Standorten hervorhebt.
In der Zwischenzeit setzt der Vorstand von AYR seine Suche nach einem permanenten CEO fort und hat True Search beauftragt, den Rekrutierungsprozess zu leiten. Steven M. Cohen bleibt weiterhin als Interims-CEO tätig.
- Streamlined operational structure with single point of accountability
- Proven track record of improving cultivation and production metrics
- Successfully reorganized brand portfolio
- Ongoing leadership uncertainty with interim CEO position still unfilled
MIAMI, Jan. 27, 2025 (GLOBE NEWSWIRE) -- AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) (“AYR” or the “Company”), a leading vertically integrated U.S. multi-state cannabis operator, today announced that George Denardo, AYR’s Chief Operating Officer, has assumed the role of President of the Company.
In his new role, George will oversee all company-wide operations, including with all retail, wholesale, purchasing, marketing, cultivation, and manufacturing.
“This is a well-deserved promotion that highlights George’s strong contributions to AYR, our confidence in his leadership, and the Company’s commitment to operational improvements via cross-functional collaboration and accountability,” said Steven M. Cohen, Interim CEO of AYR. “In his time at AYR, George has been instrumental in improving key cultivation and production metrics, streamlining and re-launching our brand portfolio, and building an updated platform to launch new and innovative products. We look forward to George applying his expertise to retail and cultivation, providing greater connectivity between various functions of our business and creating a single source of accountability.”
“I look forward to taking this next step as President of AYR, doing so at a pivotal time in the cannabis industry,” said Denardo. “Now, more than ever, cannabis operators must operate efficiently and generate value from their existing footprints. In my role as President, I aim to do just that by creating greater connectivity and synergy between AYR’s revenue and supply chain functions.”
AYR’s Board of Directors continues to lead the search for a permanent CEO and has retained True Search, a global recruiting firm, to lead the search.
To learn more about AYR Wellness or to locate your nearest dispensary, please visit www.ayrwellness.com.
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, increased connectivity between the various functions of the Company’s business and the ability to achieve certain synergies and operational improvements. 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, including, but not limited to: anticipated strategic, operational and competitive benefits may not be realized; events or series of events, including in connection with COVID-19, may cause business interruptions; required regulatory approvals may not be obtained in a timely manner or at all; inflationary pressures may increase input costs; supply chain issues may hamper production and distribution; scientific research regarding cannabis is still in its early stages and is subject to change as further research is completed; state laws may restrict or prevent inter-state commerce in cannabis products; acquisitions may not be able to be completed on satisfactory terms or at all; and AYR may not be able to raise needed additional debt or equity capital 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 Wellness 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
FAQ
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