Aurora cannabis announces ceo retirement and succession

Aurora cannabis announces ceo retirement and succession, board of directors expansion, and business transformation plan.says michael singer appointed interim ceo.executive chairman michael singer has been appointed interim ceo, effective immediately.two new independent directors to join board for a total of 10 directors, including 7 independents.announces comprehensive transformation plan.provides select unaudited preliminary fiscal q2 2020 financial results and updated outlook.eliminated close to 500 full-time equivalent staff across company.aurora cannabis - announced its intention to reduce capital expenditures for h2 of fiscal 2020 to bring capital expenditures below $100 million in total.restructuring spending plans on information technology projects, sales and marketing initiatives.aurora cannabis - restructuring spending plans on travel & entertainment, professional services, and other non-revenue generating third-party costs.aurora cannabis - expects to report asset impairment charges on certain intangible & property, plant & equipment in range of $190 million to $225 million in q2.expects cannabis revenues for q2 of fiscal 2020 of $62 million to $66 million, net of excise taxes.assets being impaired are predominantly associated with our operations in south america and denmark.eliminated staff include about 25% of corporate positions.
ACB Ratings Summary
ACB Quant Ranking