Curaleaf Announces CEO Transition
Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) has announced a significant leadership change. Executive Chairman Boris Jordan will become Chairman and CEO, effective August 16, 2024, replacing current CEO Matt Darin, who plans to retire but will stay on as a special advisor through year-end. This announcement coincides with Curaleaf's Q2 earnings report, showing 2% year-over-year revenue growth to $342 million and adjusted EBITDA of $73 million (21.3% of revenue).
Boris Jordan, Curaleaf's founding investor since 2014, has been instrumental in the company's growth to become a leader in the global cannabis industry. Under his leadership, Curaleaf has expanded to 17 states, 15 countries, and operates 147 dispensaries across the U.S. with over 5,000 team members. Jordan aims to streamline operations, accelerate growth initiatives, and drive margin expansion in his new role.
Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) ha annunciato un cambiamento significativo nella leadership. Il Presidente Esecutivo Boris Jordan diventerà Presidente e CEO, a partire dal 16 agosto 2024, sostituendo l'attuale CEO Matt Darin, che prevede di ritirarsi ma rimarrà come consulente speciale fino alla fine dell'anno. Questo annuncio coincide con il rapporto sugli utili del secondo trimestre di Curaleaf, che mostra una crescita del fatturato del 2% anno su anno, raggiungendo i 342 milioni di dollari e un EBITDA rettificato di 73 milioni di dollari (21,3% del fatturato).
Boris Jordan, investitore fondatore di Curaleaf dal 2014, è stato determinante nella crescita dell'azienda che è diventata un leader nell'industria globale della cannabis. Sotto la sua guida, Curaleaf si è espansa in 17 stati, 15 paesi e gestisce 147 dispensari negli Stati Uniti, con oltre 5.000 membri del team. Jordan intende snellire le operazioni, accelerare le iniziative di crescita e guidare l'espansione dei margini nel suo nuovo ruolo.
Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) ha anunciado un cambio significativo en la dirección. El Presidente Ejecutivo Boris Jordan se convertirá en Presidente y CEO, a partir del 16 de agosto de 2024, reemplazando al actual CEO Matt Darin, quien planea retirarse pero permanecerá como asesor especial hasta fin de año. Este anuncio coincide con el informe de ganancias del segundo trimestre de Curaleaf, que muestra un crecimiento de ingresos del 2% interanual, alcanzando los 342 millones de dólares y un EBITDA ajustado de 73 millones de dólares (21.3% de los ingresos).
Boris Jordan, inversionista fundador de Curaleaf desde 2014, ha sido fundamental en el crecimiento de la empresa, que se ha convertido en un líder en la industria global del cannabis. Bajo su liderazgo, Curaleaf se ha expandido a 17 estados, 15 países y opera 147 dispensarios en los EE. UU. con más de 5,000 miembros en el equipo. Jordan tiene como objetivo optimizar las operaciones, acelerar las iniciativas de crecimiento y promover la expansión de márgenes en su nuevo cargo.
Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF)는 중요한 리더십 변화를 발표했습니다. 전무 이사인 보리스를 조던이 의장 및 CEO로 취임하며, 이는 2024년 8월 16일부터 시행됩니다. 현재 CEO인 맷 다린은 퇴직할 계획이지만 연말까지 특별 고문으로 남을 것입니다. 이 발표는 Curaleaf의 2분기 실적 발표와 맞물려 있으며, 전년 대비 수익이 2% 증가하여 3억 4,200만 달러에 이르고, 조정된 EBITDA는 7천300만 달러(수익의 21.3%)에 달합니다.
2014년부터 Curaleaf의 창립 투자자였던 보리스 조던은 회사의 글로벌 대마초 산업 리더로 성장하는 데 중요한 역할을 했습니다. 그의 지도 아래, Curaleaf는 17개 주, 15개 국가에 진출하며 미국 전역에 147개의 약국을 운영하고, 5,000명이 넘는 팀원들을 두고 있습니다. 조던은 새 직책에서 운영 효율성을 높이고 성장 이니셔티브를 가속화하며 마진 확대를 추진할 계획입니다.
Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) a annoncé un changement de leadership significatif. Le Président Exécutif Boris Jordan deviendra Président et PDG, à compter du 16 août 2024, remplaçant l'actuel PDG Matt Darin, qui prévoit de prendre sa retraite, mais restera conseiller spécial jusqu'à la fin de l'année. Cette annonce coïncide avec le rapport des résultats du deuxième trimestre de Curaleaf, montrant une croissance des revenus de 2% d'une année sur l'autre, atteignant 342 millions de dollars et un EBITDA ajusté de 73 millions de dollars (21,3% des revenus).
Boris Jordan, investisseur fondateur de Curaleaf depuis 2014, a joué un rôle clé dans la croissance de l'entreprise, qui est devenue un leader dans l'industrie mondiale du cannabis. Sous sa direction, Curaleaf s'est étendu à 17 États, 15 pays et gère 147 dispensaires aux États-Unis, avec plus de 5 000 membres d'équipe. Jordan vise à rationaliser les opérations, accélérer les initiatives de croissance et favoriser l'expansion des marges dans son nouveau rôle.
Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) hat eine bedeutende Veränderung in der Führung angekündigt. Der Vorstandsvorsitzende Boris Jordan wird zum Vorsitzenden und CEO, mit Wirkung zum 16. August 2024, und ersetzt den derzeitigen CEO Matt Darin, der plant, in den Ruhestand zu gehen, aber bis zum Jahresende als Sonderberater tätig bleibt. Diese Ankündigung fällt mit dem Q2-Ergebnisbericht von Curaleaf zusammen, der ein Umsatzwachstum von 2% im Jahresvergleich auf 342 Millionen Dollar und ein angepasstes EBITDA von 73 Millionen Dollar (21,3% des Umsatzes) zeigt.
Boris Jordan, Gründungsinvestor von Curaleaf seit 2014, war entscheidend für das Wachstum des Unternehmens, das zu einem führenden Unternehmen in der globalen Cannabisindustrie geworden ist. Unter seiner Leitung hat sich Curaleaf auf 17 Bundesstaaten, 15 Länder ausgeweitet und betreibt 147 Apotheken in den USA, mit über 5.000 Teammitgliedern. Jordan beabsichtigt, die Abläufe zu optimieren, Wachstumsinitiativen voranzutreiben und die Margenausweitung in seiner neuen Rolle voranzutreiben.
- Revenue growth of 2% year-over-year to $342 million in Q2
- Adjusted EBITDA of $73 million, representing 21.3% of revenue
- Operating cash flow from continuing operations of $30 million
- Free cash flow from continuing operations of $6 million
- Expansion to 17 states, 15 countries, and 147 dispensaries across the U.S.
- CEO transition may lead to temporary operational adjustments
Board Appoints Executive Chairman Boris Jordan as Chairman and Chief Executive Officer
Outgoing CEO Matt Darin to Retire but Will Stay on as Special Advisor Through Year End
The announcement was made in conjunction with the Company's quarterly earnings call, during which Curaleaf reported second quarter year-over-year revenue growth of
Executive Chairman Boris Jordan stated, "Since 2014, it has been a highlight of my career to focus on growing Curaleaf to become the leader of the global cannabis industry as prohibition in the US and around the globe fades. In my role as Chairman and CEO, I have the incredible opportunity to further realize the vision I've had for what Curaleaf can ultimately become. As I step into the CEO role to oversee all day-to-day operations, and navigate the strategic direction of the company, I will work tirelessly for our customers, our shareholders, and our team members to ensure the company reaches its fullest potential. While I have remained close to the business as Executive Chairman, in my expanded role as CEO I will be able to effectuate further streamlining of the organization, speed-up decision making, accelerate growth initiatives and drive margin expansion. Along with the entire Curaleaf team, I am deeply appreciative to Matt Darin for his dedication to Curaleaf for so many years, and wish him all the best as he devotes more time to his family. I look forward to having him serve as a special advisor to me through year end to assist in the transition."
Boris Jordan was the founding investor in Curaleaf in 2014, and then became Executive Chairman, a position he has held since 2015. He has made a significant impact on the Company's emergence as an industry leader for the past decade. Mr.
"I would like to thank Boris, the entire Curaleaf team and the cannabis industry as a whole for their support as I retire from my position leading the best cannabis company in the world," said Matt Darin. "I embarked on my cannabis career over 11 years ago, and was honored to help grow the Grassroots brand, and ultimately sell it to Curaleaf in 2020. It was the pinnacle of my career to have been a part of this transformative transaction that helped create the largest cannabis company in the world, and then to go on and lead the company as CEO. I became CEO in May 2022, and in those two-plus years, I believe we have built something incredible together. Despite all of the wins we've had as a team, I have decided to retire from my post as CEO to focus on spending time with my family. I'm grateful to Boris for giving me the opportunity, and I will stay on as a special advisor to the CEO until year end to ensure there is an orderly transition as Boris steps in to lead Curaleaf into the future. I leave knowing the business is foundationally stronger today than when I found it, and more importantly, that Curaleaf's best days are yet to come."
About Curaleaf Holdings
Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) ("Curaleaf") is a leading international provider of consumer products in cannabis with a mission to enhance lives by cultivating, sharing and celebrating the power of the plant. As a high-growth cannabis company known for quality, expertise and reliability, the Company and its brands, including Curaleaf, Select, Grassroots, JAMS, Find, Zero Proof and The Hemp Company provide industry-leading service, product selection and accessibility across the medical and adult use markets. Curaleaf International is the largest vertically integrated cannabis company in
Forward Looking Statements:
This media advisory contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward–looking statements or information. Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as "plans", "expects" or "proposed", "is expected", "intends", "anticipates", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. More particularly and without limitation, this news release contains forward-looking statements and information concerning the CEO transition at Curaleaf. Such forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and uncertainties is contained under "Risk Factors and Uncertainties" in the Company's latest annual information form filed on March 6, 2024, which is available under the Company's SEDAR profile at http://www.sedar.com, and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-looking statements contained herein are made only as to the date of this press release and we undertake 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. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. The Toronto Stock Exchange has not reviewed, approved or disapproved the content of this news release.
Contacts:
Investor Contact:
Curaleaf Holdings, Inc.
Camilo Lyon, Chief Investment Officer
IR@curaleaf.com
Media Contact:
Curaleaf Holdings, Inc.
Jordon Rahmil, VP of Public Relations
media@curaleaf.com
View original content:https://www.prnewswire.com/news-releases/curaleaf-announces-ceo-transition-302217134.html
SOURCE Curaleaf Holdings, Inc.
FAQ
Who is the new CEO of Curaleaf (CURLF) as of August 16, 2024?
What was Curaleaf's (CURLF) revenue growth in Q2 2024?
How many dispensaries does Curaleaf (CURLF) operate in the U.S. as of August 2024?
What is Curaleaf's (CURLF) adjusted EBITDA for Q2 2024?
