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Posted 27 February, 2024

Neptune Wellness Solutions Inc. appointed new CEO

CEO Change detected for ticker Nasdaq:NEPT in a 8-K filed on 27 February, 2024.


  On February 26, 2024, Neptune Wellness Solutions Inc. (the "Company"), announced that its President and Chief Executive Officer, Michael Cammarata, and its Executive Vice President and Chief Legal Officer, John Wirt, have been placed on mandatory unpaid leave, effective February 23, 2024, in connection with a rapid cost cutting and restructuring effort, as a result of the Company's previously disclosed ongoing financial concerns. Mr. Cammarata also concurrently resigned from the Company's board of directors (the "Board") and all other board positions at the Company's subsidiaries and affiliates effective immediately.  

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Overview of Neptune Wellness Solutions Inc.
Health Care/Life Sciences • Pharmaceuticals
Neptune Wellness Solutions, Inc. engages in the business of redefining health and wellness by building a range of portfolio of natural, plant-based, sustainable, and purpose-driven lifestyle brands and consumer packaged goods products in key health and wellness markets, including nutraceuticals and organic baby food. It operates through the following geographical segments: Canada, the United States, and Other Countries. The company was founded by Henri Harland on October 9, 1998 and is headquartered in Laval, Canada.
Market Cap
$1.68M
View Company Details
Neptune Wellness Solutions Inc. by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On February 26, 2024, Neptune Wellness Solutions Inc. (the "Company"), announced that its President and Chief Executive Officer, Michael Cammarata, and its Executive Vice President and Chief Legal Officer, John Wirt, have been placed on mandatory unpaid leave, effective February 23, 2024, in connection with a rapid cost cutting and restructuring effort, as a result of the Company's previously disclosed ongoing financial concerns. Mr. Cammarata also concurrently resigned from the Company's board of directors (the "Board") and all other board positions at the Company's subsidiaries and affiliates effective immediately. Mr. Cammarata is challenging his unpaid leave under the terms of his employment agreement, and there is a risk of dispute under existing employment agreements as a result of the announced temporary leaves.

The Company is currently working through a succession plan to determine who will assume the role of Interim Chief Executive Officer in Mr. Cammarata's absence. In the interim, the Company has appointed a special restructuring committee comprised of certain members of the Board to evaluate candidates for the role of Interim Chief Executive Officer and to lead the Company through this transitory period.