Posted 28 July, 2023

Lucy Scientific Discovery, Inc. appointed Richard Nanula as new CEO

Nasdaq:LSDI appointed new Chief Executive Officer Richard Nanula in a 8-K filed on 28 July, 2023.

  On July 24, 2023, the Board ratified the appointment of Richard Nanula as CEO.  

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Overview of Lucy Scientific Discovery, Inc.
Health Care/Life Sciences • Pharmaceuticals
Lucy Scientific Discovery, Inc. is an early-stage company, which engages in the manufacture of psychotropics contracts. It focuses on the research, development, and manufacture of psychotropics-based medicines. Its products include raw materials, crude extracts, targeted formulations, white and private label products, and single molecule fractions. The company was founded on February 17, 2017 and is headquartered in Victoria, Canada.
Market Cap
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Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Departure of Christopher McElvany

On July 24, 2023, Christopher McElvany resigned from his positions as Lucy Scientific Discovery Inc.'s (the "Company") President and Chief Executive Officer ("CEO") and resigned as a member of the Company's Board of Directors (the "Board"). The Company and Mr. McElvany agreed that his last day of employment was July 14, 2023. Mr. McElvany did not resign as a result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices.

Appointment of Richard Nanula

On July 24, 2023, the Board ratified the appointment of Richard Nanula as CEO. Mr. Nanula, age 63, has served as our Chair and a director since February 2022 and has served as our Executive Chairman since February 2023. As noted in our prospectus dated February 8, 2023, Mr. Nanula is a highly experienced business advisor and senior executive with more than 35 years of experience in corporate finance and strategy including tenure with the Walt Disney Company (Disney), Starwood Hotels and Resorts, Amgen, and Colony Capital. Additionally, Mr. Nanula also served as a board member for Boeing Corporation and Starwood Capital. 

Family Relationships

Mr. Nanula does not have a family relationship with any of the current officers or directors of the Company.

Related Party Transactions

Other than compensation paid to Mr. Nanula pursuant to the terms of his previously disclosed existing employment agreement (with such compensation to be reported in future filings pursuant to Item 402 of Regulation S-K) there have been no related party transactions between the Company and Mr. Nanula that would be reportable under Item 404(a) of Regulation S-K.