Multi-state cannabis operator Curaleaf today announced that its board has appointed Executive Chairman Boris Jordan to become chairman and CEO, replacing current CEO Matt Darin, who plans to retire but will stay on as a special advisor through year end to ensure an orderly transition.
The announcement was made in conjunction with the company's quarterly earnings call, during which Curaleaf reported second quarter 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.
Jordan was the founding investor in Curaleaf in 2014, and then became executive chairman, a position he has held since 2015. He initially invested in Palliatech, which later became Curaleaf. Palliatech began in 2010 as a medical device company created to help late-stage cancer patients use medical grade cannabis.
Under Jordan's leadership, the company pivoted into medical cannabis dispensaries and opened its first location in New Jersey in 2015, remaining dedicated to supporting medical patients as well as welcoming adult-use customers. Today, under Jordan's leadership, the company spans 17 states, 15 countries and more than 5,000 team members, with 147 dispensaries across the U.S.
