STAMFORD, Conn. – After two years at the helm of one of the world’s largest publicly traded cannabis companies, Matt Darin will step down as chief executive officer at Curaleaf Holdings Inc. August 16. In his place, the board of directors appointed Executive Chairman Boris Jordan chairman and CEO.
The company made the announcement during its second-quarter earnings call, during which Curaleaf reported second quarter revenue of $342 million, representing year-over-year growth of 2 percent. The company also reported operating and free cash flow from continuing operations of $30 million and $6 million, respectively, and an overall loss of $49.8 million year to date.
Darin joined Curaleaf in 2020 when the company acquired Grassroots Cannabis, a multistate operator he founded in Illinois in 2014. At the time of the $700-million acquisition, Grassroots owned more than seventy licenses to grow, process, and sell in a dozen states. The acquisition more than doubled Curaleaf’s footprint. He will remain with the company through the end of the year as a special advisor.
Jordan co-founded Curaleaf by way of a previous investment in a medical device manufacturer named Palliatech. The company pivoted to cannabis and changed its name to Curaleaf in 2014. Jordan is an American-born entrepreneur and investor with assets primarily in the U.S., Canada, and Europe, according to a 2022 report in The Guardian.
Curaleaf, which relocated its headquarters to a waterfront office complex in Stamford, Connecticut, in June, operates 147 dispensaries, nineteen cultivation sites, and twenty-two processing facilities in seventeen states. The company also operates in fifteen countries outside the United States, holding cultivation licenses in Canada and Portugal and operating manufacturing facilities in Canada, Germany, Spain, and the United Kingdom. On the distribution side, Curaleaf operates in Canada, Germany, Poland, Switzerland, and the U.K. and wholesales plant material to operators in Australia, Germany, Italy, New Zealand, Poland, and the U.K.
