. SquawkCNBC spoke with Aurora Cannabis chair Michael Singer this morning after the company announced it is hiring billionaire Nelson Peltz as a strategic advisor, granting him options to purchase nearly 20 million Aurora shares.
Aurora Cannabis announced Wednesday that it has appointed longtime activist investor Nelson Peltz as a strategic advisor.
"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," Peltz said in the release. Peltz, who founded and serves as CEO of New York-based Trian Partners, has over the decades commanded respect across Wall Street for his investing prowess and ability to reshape companies. As an activist investor, Peltz and Trian Partners take stakes in public companies they believe are undervalued and push management to make changes over several years.
"We see a number of potential of growth areas, certainly consumer packaged goods," Michael Singer, Aurora's executive chairman, said Wednesday on CNBC's"Squawk Box.""The beverage industry, cosmetics, wellness; we see pharmaceuticals now starting to show interest in our space. There are a number of what we call market segments that we expect to operate in with one or many of these potential partners.
Founded in 2006 by CEO Terry Booth, Edmonton, Alberta-based Aurora is one of the world's largest cannabis producers. Second in market capitalization only to Ontario-based Canopy Growth, Aurora has built revenues and earnings at a dizzying pace in recent years as more jurisdictions approve the adult use of recreational marijuana.
"Nelson also takes a long-term view of value creation to benefit all stakeholders," Booth said Wednesday."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."
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