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AU: AusCann CEO resigns

The Chief Executive Officer of the medicinal cannabis pharmaceutical company AusCann, Mr Ido Kanyon, has resigned.

Mr Kanyon joined AusCann 12 months ago from Teva Pharmaceuticals in the United States. Mr Kanyon resigned due to personal reasons and will remain with AusCann for up to six months to ensure an orderly leadership transition.

Chairman of AusCann, Mr Max Johnston said: “On behalf of our Board, our staff and our shareholders, I would like to thank Ido for his leadership in refocussing the Company’s strategy to becoming a leading Research and Development company in the Medical Cannabis industry, bringing our first product to market and commencing our first clinical evaluation programme. Ido has strengthened and streamlined the operating model positioning the Company well for future commercial success.”

Mr Kanyon said: “I am grateful for the opportunity I have had to lead the talented team at AusCann. We have achieved a lot in a short space of time, given the focused growth strategy put in place. I am proud of the results we have been able to deliver to shareholders, healthcare professionals and patients, bringing an innovative product to market and continuing to generate clinical evidence for the benefit of patients.”

Max Johnston said: “The Board will work closely with Ido and AusCann’s leadership team to manage the transition and Dr Marcel Bonn–Miller, currently non Executive Director AusCann and internationally renowned cannabinoid expert, in the interim will assume executive responsibilities alongside Ido to provide continuity during the transition. At the same time, we have started the search for a new outstanding candidate and leader that can spearhead our existing products growth and continued development of a robust pipeline of future products.”

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