Miami-based cannabis company Ayr Wellness has announced the promotion of Chief Operating Officer George DeNardo to the role of president. DeNardo steps into a position that has been vacant since September 2024, following the resignation of David Goubert, the company’s former president and CEO.
DeNardo’s new role places him at the helm of the multistate operator’s operations, overseeing cultivation, manufacturing, retail, wholesale, and marketing efforts, according to a news release issued Monday.
A Strategic Leadership Move Amid CEO Search
DeNardo’s promotion comes as Ayr Wellness continues its search for a new permanent CEO. Stephen Cohen, appointed interim CEO by the company’s board of directors, announced the leadership change. The board has engaged New Jersey-based executive search firm True Search to identify the company’s next chief executive.
DeNardo joined Ayr Wellness in November 2023, bringing a wealth of experience from his five years in the cannabis industry. Previously, he served as the director of Pennsylvania operations for Columbia Care, now rebranded as The Cannabist Co., where his role expanded from retail management to overseeing cultivation and manufacturing as vice president of mid-Atlantic operations.
“I’ve had the opportunity to work across many facets of this industry, and this new role is an exciting challenge,” DeNardo told Cultivated Media on Monday.
Uniting Operations Under One Vision
Ayr Wellness has ambitious plans for 2025, and DeNardo’s focus is on creating a seamless connection between the company’s operational units. By consolidating back-of-house and front-of-house operations under a unified structure, DeNardo aims to boost responsiveness to shifting market dynamics.
“Putting everything under one umbrella allows us to react better to the market,” DeNardo said, highlighting the importance of alignment across departments. This strategy is intended to ensure Ayr remains competitive in a rapidly growing and evolving industry.
Ayr has already taken significant steps toward standardization. In 2024, the company implemented uniform operating procedures, a move that DeNardo believes will enhance quality and consistency across its markets.
Focused on Quality and Consumer Trends
As Ayr Wellness continues to expand, DeNardo has identified quality and consistency as top priorities. Ensuring that products meet the same high standards regardless of the market is crucial to building consumer trust, especially as new states embrace cannabis legalization.
“We’ve seen tremendous innovation in product formats and quality standards across the industry,” DeNardo said, citing the growing popularity of concentrates and multipack offerings.
DeNardo is also keen on analyzing state-level trends to identify which brands and product categories are resonating most with consumers. This data-driven approach allows Ayr to remain nimble and responsive, particularly in states like Ohio, which recently approved adult-use cannabis.
“Regulatory awareness is critical,” DeNardo emphasized. Staying ahead of policy changes and market developments enables Ayr to act swiftly, bringing new products to consumers as soon as they are permitted.
Industry Trends and Ayr’s Path Forward
DeNardo’s leadership comes at a pivotal time for the cannabis industry, where multistate operators (MSOs) and independent brands are competing fiercely for market share. Product innovation has been a significant driver of growth, with companies introducing new forms of consumption and refining quality standards.
While Ayr Wellness has faced its share of challenges, including navigating regulatory landscapes and scaling operations across multiple states, the promotion of DeNardo signals the company’s intent to double down on operational excellence.
Key industry trends like the rising demand for concentrates and the expansion of adult-use markets present both opportunities and challenges. With DeNardo’s expertise in operations and his focus on aligning Ayr’s internal processes, the company appears well-positioned to meet these demands.
Ayr Wellness’ decision to promote from within reflects confidence in its leadership team’s ability to steer the company through a period of transformation. As the search for a new CEO continues, DeNardo’s expanded role will likely be instrumental in maintaining stability and driving growth.
The Road Ahead for Ayr Wellness
As DeNardo takes the reins as president, his ability to unite Ayr’s diverse operations under a single strategic vision will be critical. His experience in both retail and manufacturing equips him with a unique perspective on the cannabis supply chain, from cultivation to the consumer.
DeNardo’s focus on quality, consistency, and innovation aligns with Ayr’s broader goals of capturing market share and staying competitive in an increasingly crowded field. Whether it’s launching new products in emerging markets or refining processes to ensure consistent quality, DeNardo’s leadership will be key to Ayr Wellness’ success in the coming years.
With regulatory changes on the horizon and consumer preferences continuing to evolve, Ayr Wellness’ commitment to operational excellence and strategic growth will be put to the test. Under DeNardo’s guidance, the company aims to strengthen its position as a leader in the cannabis industry.