Stamford-based cannabis product provider Curaleaf announced on August 7 a change in leadership as Jordan Boris will assume the role of CEO starting August 16. Current Matt Darin announced plans to retire but will stay on as a special consultant through the end of the calendar year.
“I would like to thank Boris, the entire Curaleaf team and the cannabis industry as a whole for their support as I retire from my position leading the best cannabis company in the world,” said Matt Darin. “I embarked on my cannabis career over 11 years ago, and was honored to help grow the Grassroots brand, and ultimately sell it to Curaleaf in 2020. It was the pinnacle of my career to have been a part of this transformative transaction that helped create the largest cannabis company in the world, and then to go on and lead the company as CEO.”
“I’m grateful to Boris for giving me the opportunity, and I will stay on as a special advisor to the CEO until year end to ensure there is an orderly transition,” Darin added. “I leave knowing the business is foundationally stronger today than when I found it, and more importantly, that Curaleaf’s best days are yet to come.”
The announcement was made during a quarterly earnings call which noted year-over-year revenue growth of 2% to $342 million, and adjusted EBITDA of $73 million, 21.3% of revenue, with operating and free cash flow from continuing operations of $30 million and $6 million, respectively.
Boris Jordan is currently the Executive Chairman of Curaleaf’s board and was one of the company’s founding investors.
“Since 2014, it has been a highlight of my career to focus on growing Curaleaf to become the leader of the global cannabis industry as prohibition in the US and around the globe fades. In my role as Chairman and CEO, I have the incredible opportunity to further realize the vision I’ve had for what Curaleaf can ultimately become. As I step into the CEO role to oversee all day-to-day operations, and navigate the strategic direction of the company, I will work tirelessly for our customers, our shareholders, and our team members to ensure the company reaches its fullest potential,” said Jordan.
