Chief executive officer Vic Neufeld and co-founder Cole Cacciavillani, both in their sixties, will step down so Irwin Simon can become chairman and Jakob Ripshtein president.
Neufeld and Cacciavillani will serve as special advisers until a new chief executive officer is appointed.
“Vic and I have worked tirelessly for decades, building great businesses, but now in our sixties, it is time for both of us to step back from the demands of leading a world-class organization,” Cacciavillani said in a news release.
“Endless meetings, travel, deadlines, talent search - the list of executive responsibilities will only continue to grow,” he wrote.
Aphria also said today that it booked $22 million in revenue during the three-month period ended Nov. 30. Canada legalized recreational marijuana on Oct. 17.
In recent days, stock market investors have taken positions indicating they think Aphria’s shares will decline.
