Peltz’s resignation was also announced in a press release today, along with the company’s annual general meeting scheduled for Nov. 12.
Peltz signed on as a strategic adviser in March 2019 to help Aurora lock in partnerships and expand internationally – a move that was heralded at the time as a major vote of confidence for the Canadian company.
Aurora lost over 3.5 billion Canadian dollars ($2.6 billion) during the time Peltz served as an advisor.
Peltz co-founded New York-based multibillion-dollar asset management firm Trian Fund Management. He is also director of fast-food holding company Wendy’s Company and Procter & Gamble.
Aurora brought in Peltz after competitors Canopy Growth and Cronos Group locked up multibillion-dollar investments from Global liquor giant Constellation Brands and Virginia-based Altria, respectively.
In an email to MJBizDaily, Aurora confirmed Peltz departure.
“Aurora confirms the company and Nelson Peltz have concluded their relationship,” according to the statement.
“This change is a direct result of Mr. Peltz’s decision to pursue other commitments and the company appreciates his valuable contributions.”
Earlier this month, Aurora elevated Miguel Martin as CEO.