New leader for Helius

AUCKLAND: The chief executive of one of New Zealand’s highest profile cannabis firms quietly resigned from his leadership role at the end of last year.

Documents filed with the Companies Office on December 21 show former Helius Therapeutics chief executive Paul Manning’s directorship with the company ended on December 8.

Mr Manning’s LinkedIn profile has since been updated and now describes him as a cofounder and consultant for the business.

He confirmed yesterday that there had been changes at the business.

He had made the decision to hand the leadership reins over to someone better equipped to deliver on technical and operational aspects of running a pharmaceutical business, he said.

Helius would this year move into the commercial manufacturing and distribution of cannabisbased medicines; this necessitated a different kind of leader.

Mr Manning’s role will be taken over by former chief operations officer Carmen Doran, who joined following a long career in the pharmaceutical industry.

‘‘My background is advertising and media,’’ Mr Manning said.

‘‘You don’t get out of bed one day and decide to run a pharmaceuticals business. It’s a sector that requires specialised expertise. I’ve taken Helius as far as I can with my entrepreneurial skill set.’’

He did not want to hold on to the leadership when it was not the best course of action.

‘‘Carmen has a masters in biomedical engineering and I didn’t even go to university,’’ he said.

Mr Manning would stay with the business in an advisory role, focusing on his area of expertise in helping to develop the brand and take products to market.

Companies Office records show he continues to hold a 15% stake in the organisation. — The New Zealand Herald