The Rise of Boris Jordan
Stepping into the CEO position at Curaleaf Holdings, the esteemed Boris Jordan brings a storied career navigating Wall Street and international markets. Jordan’s journey from the financial epicenter of the 1980s to cultivating one of the premier cannabis enterprises on the East Coast epitomizes true metamorphosis.
A Visionary in Transition
Spanning an illustrious Wall Street tenure, Jordan was notably pivotal in post-Soviet economic transformations, particularly in Russia. Transcending boundaries, Jordan’s keen eye shifted towards the U.S. cannabis sector around 2013, drawing parallels between American cannabis and pioneering investments in Russia’s nascent market.
Steadfast Leadership at Curaleaf
Pioneering the founding investment in Curaleaf in 2014, Jordan’s ascendancy to executive chairman in 2015 cemented his dedication to the industry’s growth. Embracing this new role as CEO, Jordan sets his sights on propelling Curaleaf to paramount heights within the global cannabis arena.
An Era of Transition
Marking a significant shift, CEO Matt Darin’s impending retirement signals a transformative chapter for Curaleaf. Darin’s decision to remain a guiding force throughout the company’s evolution until the year’s end underscores a seamless passing of the torch.
Financial Fortitude
Curaleaf’s quarterly earnings call unveiled a buoyant financial landscape, with a 2% year-over-year revenue surge to $342 million. Notably, the company reported an adjusted EBITDA of $73 million, mirroring 21.3% of revenue. Operating and free cash flow from continuing operations stood at $30 million and $6 million, respectively.
Market Response
Reflecting market dynamics, Curaleaf’s shares edged 0.63% higher, reaching $3.21 per share, underscoring investor sentiment amidst this transformative leadership transition.
