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ABCANN GLOBAL CORPORATION (CVE:ABCN) reported that Ken Clement, the Executive Chair and founder, has determined to step down from his role as Executive Chair, but will remain as a member of the firm’s board of directors. Therefore, the Board has unanimously engaged Paul Lucas as Chair of the Board. Lucas is an independent director of the firm and Chair of the Nominating as well as Corporate Governance Committee.

The details

Lucas previously served as the CEO and President of GlaxoSmithKline Canada from 1994 until 2012, where he looked after all pharmaceutical operations in Canada. Before joining GSK in 1986, he served on progressive management roles at McNeil Pharmaceutical and Eli Lilly Canada. Lucas previously was the chair of the TM Bioscience’s board, a member of the boards of Biochem Pharma, and also held various key roles with other firms. As of now, Lucas is a member of the board of Rna Diagnostics Inc. and Chair of the boards of Induran Ventures Inc. and EcoSynthetix Inc.

The appointment of Lucas as independent Chair, along with the recent selection of Barry Fishman as CEO, represent important measures in the ABcann’s enhancement of its corporate governance standards and operational oversight. The focusing of responsibility for the firm’s strategic vision and businesses under their strong leadership is anticipated to further the efficient execution and advancement of ABcann’s business plan.

Mr. Clement expressed that the preceding few years at ABcann Global have been among the most rewarding and exciting times of my life. However, now it is the time for him to pursue other interests, and he lend his full support to Barry and Paul, along with the entire leadership team and Board, to guide company into a successful future as an industry pioneer.

In the last trading session, the stock price of ABcann gained more than 2% to close the day at $1.09.

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