Neptune Wellness Solutions Inc. appointed Michael De Geus as new CEO

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On March 8, 2024, Neptune Wellness Solutions Inc. (the "Company"), announced that the Company's Board of Directors (the "Board") appointed Board member Michael De Geus as its interim President and Chief Executive Officer, and Cedrick Billequey, General Manager of the Company's subsidiary, Biodroga Nutraceuticals, Inc. ("Biodroga"), as its Interim Chief Operating Officer, effective immediately.


Mr. De Geus has been a director of the Company since April 2020. He is a highly accomplished security executive with almost 20 years of domestic and international safety, protection and entrepreneurship experience. His 12-year career with the United States Secret Service afforded him the opportunity to become an expert in the art of protection and problem solving where he focused on safeguarding people, places and things all over the world. He is experienced in leading Presidential details for multiple US Presidents, leading cyber security, fraud, and financial crimes investigations, including the largest data breach cases in US Secret Service history, and operationalizing large mission-based teams. He is also the founder of Leatherback Gear and HERO Beverage Co. He holds a Bachelor of Sciences in Criminal Justice from California State University, Fullerton, a Master of Sciences in International Relations from Troy State University, and was a PhD Candidate in Public Policy specializing in Homeland Security.


Mr. Billequey has been leading Biodroga for over three years, during which time Biodroga expanded its client portfolio and became a profitable company. He led the restructuring of the entire Biodroga team and its processes to ensure superior customer service levels and scalability. Cedrick possesses significant experience and knowledge in B2B business development and supply chain optimization, with a solid background in finance. Prior to joining Biodroga, Cedrick worked over 20 years in the pharmaceutical industry where he held various leadership roles in International Business Development, Supply Chain, Project Management and Finance. He worked many years at Pharmascience, one of the largest generic pharmaceutical companies in Canada, before joining Jamp Pharma Corporation as Vice-President International Business Development, one of the fastest growing Canadian Pharmaceutical companies. In 1999, he received a Bachelor of Business Administration in Finance from the University of Alabama in Huntsville.


Neither Mr. De Geus nor Mr. Billequey has a family relationship with any of the executive officers or directors of the Company. Mr. De Geus was granted compensation of $20,000 per month in connection with this interim appointment. Mr. Billequey was granted a raise of CAD$10,000 per month in addition to his current base salary in connection with the interim appointments. There are no other arrangements or understandings between Mr. De Geus or Mr. Billequey and any other person pursuant to which they were appointed as Interim President and Chief Executive Officer and Interim Chief Operating Officer of the Company, respectively.