Summer is now behind us; Fall is in full swing, our plant in Burlington is almost completed and we have a full Board of Directors.
Having a Board of Directors at EmpowerPharm is an absolute necessity to ensure good corporate governance as we harness the power of the collective wisdom and experience of some of the best minds from the Canadian pharmaceutical industry. We are very fortunate to have seven Directors who are all passionate, caring, responsible, mutually respectful and are highly intelligent individuals who add tremendous value to our team.
We have a dream management team. And, like all players of a great sports team, our players are backed up by a strong lineup of coaches and other professionals who ensure our collective success. Having the support of Directors is critically important to the players so they can be completely focused on the game, performing at their optimal level.
Our Board members are as follows: Aubrey Dan – Chairman & Co-Founder, Jack Kay –
Six board members come from the pharmaceutical industry, three from the generic sector and three from the brand name drugs sector. One member, Elias, is a professional Chartered Accountant, who has worked with me at the Dancap Family Investment Office for more than 25 years. Three of the four independent (I) Directors are women.
In past Newsletters, you have heard a lot about Peter and myself. In this Newsletter, you’re going to read about the other five Directors, who in their own words, will share their background: What attracted them to join our Board; How their experience differentiates them from other companies specializing in CBD; The value they can contribute to the board; and, A little about themselves personally.
Some highlights that speak volumes that reflect the evolving culture of our Board:
- People and purpose attracted me to EmpowerPharm. We exist to empower health and innovation. I am energized that our work will empower better care and a better future. Our high integrity, innovative, entrepreneurial, trustworthy, ambitious people will make a difference in the world.
- We are a diverse board comprised of leaders from the pharmaceutical field committed to quality, good corporate governance, integrity and transparency.
- My five decades of knowledge of the regulatory environment for the making and selling of prescription pharmaceuticals in Canada and globally. Especially, having worked for Apotex, who manufactured more than 20 Billion tablets and capsules per year will be a differentiating factor.
- We shared similar views on bringing our pharmaceutical experience and a higher level of transparency, science and professionalism to the category.
- I firmly believe that patients should be 100% certain of the quality of the product that they are taking, and that product claims should be based on solid clinical evidence. I have come from a research-based pharmaceutical environment and value scientific evidence – clinical research, analytical testing and quality control.
- Good corporate governance occurs when an organization is fulfilling the aims of its key stakeholders and doing so in an ethical and effective manner with due transparency and accountability.
- The ultimate goal is corporate success, from the perspectives of achieving financial milestones and social responsibility.
- I thought the idea of a prescription grade CBD was critical to really knowing what can be done for people — and I knew of many concerns about the wild west nature of the market.
- I have had multiple experiences with regulators, particularly the FDA on labelling, and have had product successes, and failures in the very late stages.
- Governance will keep us clear on how we manage other peoples’ money in our endeavors, and how we approach decisions which can impact health and safety of the people who will want to use our medicine.
We’re still a private company in our start-up phase of the business, yet we’ve put into place a strong foundation of behaving like a public company. It’s our intent, in the future, when it’s time to go public, that the process will be seamless.
I would like to wish you and your families a very Happy Thanksgiving.