Aurora CEO Miguel Martin has been appointed to the additional role of executive chairman, and outgoing Chairman Ron Funk has been appointed as lead independent director. Both appointments follow unanimous votes by Aurora's board and are effective immediately.
Martin said of his new role: "I am excited to take on this expanded role and equally thrilled that we will have the ongoing benefit of Ron's extensive business experience."
Funk said that it has been a "pleasure both serving as Aurora's chairman of the board and working so closely with Miguel since he was appointed as CEO. Aurora's board and leadership team have evolved greatly over the past few years, enabled by thoughtful and strategic succession planning all with a focus on what is right for the company and our shareholders. The future for Aurora is bright, and I am honored to remain part of the company's journey."
In his expanded role as executive chairman, Martin will lead in setting the board agenda, drawing on his insight and understanding of Aurora's business and operations to identify strategic opportunities and risk mitigation approaches for the board's consideration.
As lead independent director, Funk will continue to be focused on ensuring that the board functions effectively and independently of the management of the company and on continuing to provide independent leadership to the board.
The company has also announced the following changes to its board committee compositions.
- Michael Singer, who previously acted as executive chairman and interim CEO, is again considered independent within the meaning of National Instrument 52-110 – Audit Committees, as over three years have elapsed since he resigned from the executive chairman position in May 2021. As a result, Singer has been appointed to the Audit Committee and the Human Resource and Compensation Committee (HRCC), bringing invaluable expertise to both committees. Both Singer and Audit Committee Chair Chitwant Kohli are considered "audit committee financial experts" under the rules of the SEC.
- Rajesh Uttamchandani has been appointed to the HRCC and the Nominating & Corporate Governance Committee, bringing his experience in human capital, strategy, governance, and innovation, which will undoubtedly complement the existing strength of those committees.
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