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Neptune Wellness Solutions Appoints Michael De Geus as Interim CEO

Published 08/03/2024, 13:36

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Neptune Wellness Solutions Inc. (NASDAQ:NEPT), today announced the Company's Board of Directors has named Board member Michael De Geus Interim President and Chief Executive Officer, effective immediately. Mr. De Geus has served as an integral member of the previously disclosed Restructuring Committee of the Board of Directors following the furlough and departure of Michael Cammarata, who served as President and Chief Executive Officer since 2019. Additionally, the Company's Board of Directors has named Cedrick Billequey, currently General Manager of Neptune's subsidiary Biodroga Nutraceuticals, Inc. ("Biodroga"), Interim Chief Operating Officer of Neptune. He will continue his role at Biodroga concurrently with his interim appointment.

Mr. De Geus has been a director of Neptune 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 (the only patented personal protection system D2C) and HERO Beverage Co. (with the goal of Helping Everyone Remain Operational, benefiting first responders, servicemen and women, and other heroes). 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.

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Mr. Billequey has been leading Biodroga , Neptune's nutraceuticals brand subsidiary, 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.

Julie Phillips, Chair of the Board of Neptune and member of the Company's Restructuring Committee, commented, "Michael has played a vital role as a member of the board and now as a key player in the strategic and restructuring initiatives. He is adept at bringing focus and a mission-driven culture to identify and overcome obstacles. Cedrick has the unique ability to build cultural and operational excellence, and is a highly respected teammate in the company, as well as a trusted leader in the health and wellness industry. I look forward to continuing to partner with Michael and Cedrick to move the company forward and effect positive change."

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