[PRESS RELEASE] – MIAMI, April 4, 2025 – AYR Wellness Inc., a leading vertically integrated U.S. multistate cannabis operator, announced that, effective April 4, Steven M. Cohen has stepped down as the interim CEO of the company. The AYR board of directors has appointed Scott Davido as interim CEO. Cohen served as interim CEO since Sept. 18, 2024, and will remain engaged as an adviser to the company to support this transition.
Davido is a senior managing director at Ankura Consulting Group, a global advisory and business consulting firm. He previously served in the same role at FTI Consulting, leading companies in financial and operational transitions. Among his roles, Davido has previously served as interim CEO of DCL Corp., CEO of Advantage Rent a Car, and CEO of Experience.com (formerly Social Survey). Davido has also held senior executive roles at Calpine Corp. and NRG Energy.
“The Board would like to extend our thanks to Steven for his time as interim CEO of AYR, during which he kicked off a crucial period of evolution for the organization, and for all of his ongoing support for the company,” AYR Board Chairman Louis Karger said. “We appreciate Steven’s willingness to stay on as an adviser to the company as we continue to execute on our strategic initiatives. We also want to welcome Scott as AYR’s new interim CEO, bringing with him a track record of positioning companies for sustained success and executing on strategic initiatives. With this leadership transition, we look forward to AYR taking its next steps.”
“I have appreciated the opportunity to lead AYR over the past few months, working closely with the leadership team and the board to implement key changes needed to set the company up for future success,” Cohen said. “As I hand the interim CEO role to Scott, I do so with the utmost confidence that AYR is in the right hands, and I look forward to supporting Scott and the broader company as a strategic adviser.”
“I am excited to join AYR, and I look forward to working with the board, the leadership team and all AYR associates to develop and implement a series of strategic, operational and financial initiatives to take the business to a new level of success,” Davido said.
