Creso Pharma has made a number of key appointments, with William Lay, Bruce Linton and Micheline MacKay taking on new roles in the business.
Lay is promoted to group CEO and managing director following a stint as executive vice president – strategy, origination & operations, while Linton has been made a non-executive director in addition to his ongoing role as a strategic consultant to the company.
MacKay, currently the corporate manager of Creso’s wholly owned Canadian subsidiary Mernova Medicinal, joins the board as executive director.
Lay began his career in banking before joining Canadian cannabis behemoth Canopy Growth Corporation where he worked with Linton on a number of high-profile initiatives.
In his new role, he will progress Creso’s North American-focused growth strategy as well as its proposed NASDAQ dual listing, and oversee global operations including potential new market entries.
Linton co-founded and led Canopy Growth to become the first cannabis producer on the New York Stock Exchange, with a peak market capitalisation of more than US$15 billion.
Since leaving the firm, he has led investments in the cannabis and psychedelic sectors while undertaking management and strategic advisory roles.
As a non-executive director with Creso, he will continue to provide strategic advice on the company’s operations and become more involved in progressing growth initiatives.
MacKay has 22 years’ experience in regulatory environments, including pharmaceuticals, medical devices, and government-regulated industries. She has been Mernova’s corporate manager for nearly three years, helping to grow it from 14 to 42 full-time employees.
Lay said he was looking forward to working with Linton, adding: “I am excited about the future growth potential of Creso Pharma. Several of our business units are at inflection points and have the opportunity to grow substantially in the future.”
Linton said: “I have known and thought highly of Creso’s products for several years now. I began formally advising the company less than a year ago, seeking to assist in global adoption of these products.
“This next step is intended to accelerate mergers and acquisitions that allow for this objective to take place.
“While it is no secret that I generally prefer not to take board roles, and actively turn them down on a regular basis, I am accepting this assignment due to the leadership of the company, and the scope of the opportunity.”
Chairman Dr James Ellingford added: “Will and Bruce have an existing, symbiotic relationship from their time working together at Canopy Growth and bring extensive industry experience to our board.
“Micheline also has an extensive knowledge of our Mernova subsidiary and has been instrumental in scaling its operations to a solid revenue generator.”