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CanniMed CEO resigns, Aurora Cannabis exec tapped interim CEO

Reuters
(THE CANADIAN PRESS/Chris Young)

(Reuters) - CanniMed Therapeutics (Toronto:CMED.TO - News), which is being acquired by Aurora Cannabis, said Chief Executive Officer Brent Zettl has resigned.

Aurora Cannabis senior vice president Andrċ Jérôme, previously tasked with heading the acquisition of CanniMed, will serve as interim CEO.

Aurora is almost set to close the purchase of CanniMed, creating the world's most valuable weed firm after months of tensions between the companies.

"I would like to express our gratitude to Brent for his leadership of CanniMed over the past three decades," Chief Financial Officer John Knowles said in a statement.

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In a combined statement, the companies said Zettl will assist CanniMed and Aurora in an advisory role through the merger.

Aurora had originally made a hostile bid capped at C$24 per share for CanniMed, and increased it to C$43.

(This version of the story corrects company name in headline to "Aurora Cannabis" from "Aurora Therapeutics")

(Reporting by Taenaz Shakir in Bengaluru; Editing by Shailesh Kuber)