Aurora Cannabis Inc. (NYSE: ACB) announced today that it has appointed the renowned billionaire Nelson Peltz as a strategic advisor.
Peltz will work alongside the company to identify strategic partnerships in any of Aurora’s established avenues of cannabis products. He will also maintain and advisory role on the strategic advantage of increased global expansion for the company.
The news gave the stock a quick 14% boost in value.
Terry Booth, Chief Executive Officer of Aurora Cannabis, stated: "Nelson is a globally recognized business visionary with a strong track record of constructive engagement to generate accelerated, profitable growth and shareholder value across many industry verticals that are of great interest to us. Like us, Nelson also takes a long-term view of value creation to benefit all stakeholders. We look forward to working with Nelson to further extend our global cannabis industry leadership by aligning Aurora with each of the major market segments cannabis is set to impact."
Peltz is the current CEO and founding partner of the multi-billion dollar asset management corporation Trian Fund Management. In the past, Peltz was CEO of Triarc Companies, a company that at one time acquired high value companies like Snapple from Quaker Oats and Arby’s. Trian Fund Management went on to make investments in the area of billions of dollars in several well-known corporations after it was founded in 2005. The management fund corporation made investments that were more than a billion dollars into Kraft Foods, Family Dollar, DuPont, PepsiCo, and more.
Nelson Peltz, the newest addition to Aurora’s team of Strategic Advisors, stated: "I believe Aurora has a solid execution track record, is strongly differentiated from its peers, has achieved integration throughout the value chain and is poised to go to the next level across a range of industry verticals. I also believe that Canadian licensed producers, and Aurora in particular, are well positioned to lead in the development of the international cannabis industry as regulations evolve, with a strong, globally replicable operating model. I look forward to working with Terry and the extended Aurora team to evaluate its many operational and strategic opportunities, including potential engagement with mature players in consumer and other market segments."
The author of this article does have current position with Aurora Cannabis stock.
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