Lucy Scientific Discovery LSDI has resigned as the new principal on July 13. The current executive chairman, Richard Nanula, will remain the current chairman of the company while Chris McElvany, the CEO, succeeds to bring significant strategic focus and leadership to Lucy.
Nanula has served as a CFO in Fortune 500 companies such as The Walt Disney Corporation DIS and Amgen Inc. NASDAQ: AMGN and has a long history of senior management experience, including overseeing over $50 billion in M&A and financing transactions.
It is intended that Lucy's founder and former CEO McElvany remain closely involved as a consultant, utilizing his knowledge and industry expertise to support the transition.
Lucy owns holdings and operations in a variety of psychotropic businesses. With its Canadian Controlled Drugs and Substances Dealer's license and wholly-owned subsidiary LSDI Manufacturing Inc.'s specialized license, the parent company can create, sell, deliver and manufacture pharmaceutical-grade Active Pharmaceutical Ingredients APIs used in controlled substances and their raw material precursors.
Lucy is also striving to advance the understanding and applications of psychoactive medicines for improved mental health outcomes and improved well-being.
McElvany says Nanula's remarkable history of leadership at major corporations makes him the ideal candidate for Lucy's next phase of growth.
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I am extremely excited as both founder and a significant shareholder to work with Richard and the Lucy team to innovation and create value for shareholders going forward, he said, adding that: 'I am extremely excited as both founder and a significant shareholder to work with Richard and the Lucy team to evolve and create value for shareholders going forward.
She added that he views Lucy in a unique position to leverage the growing industry, together with its position as a Nasdaq-listed company.
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