For the second time in about six months, cannabis operator AYR Wellness is losing its CEO.
Effective today, Steven M. Cohen has stepped down as the interim CEO of the company. He’s being replaced by Scott Davido, a senior managing director at Ankura Consulting Group, a global advisory and business consulting firm. Among his roles, Davido has previously served as Interim CEO of DCL Corporation, CEO of Advantage Rent a Car, and CEO of Experience.com.
“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.”
In late September 2024, the company announced that David Goubert was stepping down as the president and chief executive officer of the company after serving in the roles since October 12, 2022 and February 13, 2023, respectively.
The senior leadership turmoil at AYR comes as the multi-state cannabis operator seeks to sell off its assets in Illinois and exit the market.
During the company’s fourth-quarter earnings call last month, president and COO George DeNardo said AYR has been working on identifying inefficiencies and acting to clean them up.
“That means investing in the markets that we believe in and where we have a pathway to succeed and to move on from the ones that don’t make sense from where we are as a business,” he said, calling Illinois a market where the company doesn’t have the necessary scale to compete over the long term.
Source
https://www.cannabisequipmentnews.com/news/news/22937885/ayr-wellness-loses-second-ceo-in-six-months
