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Aurora Cannabis Appoints Rajesh Uttamchandani to Board of Directors

May 15, 2024


Key Takeaways

  • Rajesh Uttamchandani joins Aurora Cannabis's Board of Directors.
  • He brings extensive experience from technology, FinTech, and human capital sectors.
  • His expertise is expected to support Aurora's strategic initiatives and market leadership.

Uttamchandani's Role

In a news release by Aurora, Ron Funk, chairman, noted Uttamchandani's diverse background as a significant asset to the board's capabilities. Uttamchandani's focus on human capital and governance aligns with Aurora's objectives to navigate the global cannabis market's complexities and enhance competitive positioning.

"I am very pleased to be welcoming Raj to our Board of Directors," Funk said in the release. "He brings a breadth of knowledge and capability from a variety of sectors and disciplines that will undoubtedly be additive to Aurora and complement the existing strength of our Board."

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As we pursue our objective to achieve sustainable performance and global leadership in the cannabis market, we will benefit from Raj's experience in human capital, strategy and innovation – all of which are woven into our strategic priorities – as well as from his past and current directorships," he added.

Background and Qualifications of Rajesh Uttamchandani

Per the release, Rajesh Uttamchandani holds degrees in Industrial Relations and Human Resources, Law, and an L.L.M in Employment and Labour from the University of Toronto and Osgoode Hall Law School. He is a licensed lawyer in Ontario with a corporate director designation (ICD.D).

His experience includes directorships at LifeSpeak, Ontario Cannabis Stores, and Mackenzie Health.

Why We Care

Aurora Cannabis Inc.'s appointment of Rajesh Uttamchandani to its Board of Directors marks a strategic update in leadership at a critical time of financial recovery and market expansion. This appointment coincides with Aurora's notable financial improvements in fiscal Q2 2024, including a 30% increase in net revenue to $63.4 million and a shift from a financial loss to a record positive adjusted EBITDA of $3.4 million.

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The company has recently streamlined operations, including closing its Nordic facility to consolidate manufacturing in Canada, aiming to boost operational efficiency and profitability across its medical and consumer cannabis sectors. Additionally, Aurora has reduced significant debt, improving its financial stability and setting a trajectory toward positive cash flow.