Skip to main content

Cam Battley inspects marijuana plants at the Aurora Sky facility in Edmonton on July 13, 2018.

JASON FRANSON

Shares in Aurora Cannabis Inc. continued to fall on Tuesday as the company confirmed that it asked key executive Cam Battley late last week to step down as chief corporate officer.

The Edmonton-based pot provider’s shares were down 5.6 per cent or 15 cents to $2.50 on the Toronto Stock Exchange early Tuesday.

On Monday, they fell almost 10 per cent as the market absorbed news released late Saturday that Battley, who has often been the public face of the company for investors, would immediately step down.

Story continues below advertisement

The Saturday release didn’t say why Battley was leaving but an e-mailed statement on Tuesday said Battley was asked last Friday to “step away” from his role as part of the evolution of the company’s leadership strategy.

In the earlier release, Aurora CEO Terry Booth wished Battley well in Australia – the release noted Australian authorities had approved his appointment as a director for MedReleaf Australia, a private medical cannabis company in which Aurora has a 10 per cent stake as well as 50 per cent voting rights.

Analysts have blamed recent steep declines in cannabis company shares on falling recreational sales in Canada due to high inventory levels, noting the market hasn’t grown as much as expected since recreational pot became legal in 2018.

“As a leader in the expanding global cannabis sector, Aurora continues to evolve the company to address the conditions of the industry and the company’s leadership ambitions in Canada and the U.S.,” said the email supplied by Jon Filson, senior manager of corporate communications.

“This includes changes to the leadership of the company with the departure of chief corporate officer, Cam Battley, who was asked to step away from his role on Dec. 20, 2019.”

Report an error
Tickers mentioned in this story
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies