Trait Biosciences Names International Marketing Leader As CEO
May 23, 2019, 08:00 ET
New COO, a proven leader in agricultural science, also joins executive team
VANCOUVER, British Columbia, May 23, 2019 /PRNewswire/ -- Trait Biosciences Inc., a rapidly growing leader in bio-technology focused on advancing the science of cannabinoid production within the Hemp & Cannabis industry, has appointed Peter J. McDonough, a proven global marketing leader, as its Chief Executive Officer.
McDonough, who previously served on Trait's Board of Directors, takes the reins from Joseph del Moral, a cannabis industry veteran who successfully led the early formation of Trait. The Board's decision to change the company's leadership reflects Trait's expanding technology platforms and interest in leveraging McDonough's expertise in directing the science to support innovative CBD products within the rapidly evolving Hemp & Cannabis industry.
Following McDonough's CEO appointment Mr. del Moral will remain active and vital to Trait — serving on its Board of Directors and working closely with the executive team.
"We thank Joseph for his invaluable leadership in moving Trait forward and we welcome Peter as Trait enters its next phase of growth and evolution," said Michael Harrison, Trait Chairman. "We will tap heavily into Peter's expertise and experience as Trait expands its focus on the North American market and builds its stature in the worldwide CBD infused beverage and Health & Wellness industry."
"I look forward to continuing to work with Joseph, who has been a great leader," said McDonough. "He'll continue to play a key role with our world class science team as we introduce breakthrough technology enabling the scaled production of water-soluble CBDs and highly valued minor cannabinoids to stimulate new product development. We're excited to bring these technologies to market and advance our patent pending plant transformation technology delivering increased crop yields, protection without pesticides and amplified plant production of natural high-quality cannabinoids."
As CEO, McDonough will lead Trait's globally renowned team of research scientists headed by Dr. Richard Sayre, recognized by Nature as one of the "top five crop researchers who could change the world." Trait's proprietary technologies feature patent pending IP in the development of enhanced cannabinoids delivering rapid onset, improved efficacy, bioavailability, stability and taste. Its advanced IP for creating water-soluble cannabinoids does not rely on the use of emulsion or nanotechnology, which are processes of increasing concern by health authorities.
Rebecca White tapped as COO
Trait also has recruited Dr. Rebecca White to the executive team, joining as Chief Operating Officer. White joins from Qualitas Health, where she oversaw a staff of 30 and was responsible for product production as Vice President, Operations. Prior to Qualitas, White was Director of Cultivation at Sapphire Energy, Inc. Dr. White possesses a PhD in microbiology from Texas A&M University and is a proven business leader in transferring innovative science and technology to provide new commercial processes delivering improved production.
"I'm delighted to have Rebecca's proven leadership and experience as we bring Trait's unique technologies to the marketplace," said McDonough. "As an accomplished leader in agricultural science and research, Rebecca will play a key role in Trait's mission to become the most productive originator of technology providing a competitive edge in CBD product development."
McDonough Background
In appointing McDonough Trait has selected a proven leader in business development and brand building with 30 years' experience across multiple consumer product industries. He served as a senior executive at Diageo North America (NYSE: DEO) for nearly a decade as its President, Chief Marketing & Innovation Officer from 2009-2015. Prior to Diageo, McDonough was Procter & Gamble's Vice President of European Marketing overseeing Duracell Batteries and Braun Appliances. Earlier he served on the MBA faculty teaching marketing strategy at the University of Canterbury's Graduate School of Commerce in New Zealand.
Prior to his overseas work, McDonough was Gillette's head of North American marketing for the company's flagship blade/razor business and introduced market-leading brands such as Mach3 Turbo and Venus Razors. Earlier in his career he was Director of North American marketing at Black & Decker where he was involved in launching the DeWalt Power Tool Company. McDonough currently serves on several Corporate Boards, including the Advisory Board of Viridian Capital Advisors, a leading financial advisory firm dedicated to the Hemp & Cannabis industry. McDonough is an alumnus of Cornell University and holds a Master of Business Administration from the Wharton School of Business.
About Trait
With a team of internationally recognized scientists who are applying best-in-class technology and agricultural science, Trait Biosciences is an emerging biotechnology leader in the Hemp & Cannabis industry. Its consumer technology platforms provide breakthrough IP and science which produce enhanced cannabinoids featuring predictable onset timing, superior bioavailability, extended stability and improved taste. Trait's patent pending technology includes a process for generating water-soluble cannabinoids that does not rely on emulsion or nanotechnology. The company's agricultural technologies increase crop yields and plant safety, including ultrahigh yield "Super Producer" plants which dramatically increase a plant's natural cannabinoid productivity, and its RNAi crop protection technology, which eliminates the need for pesticides or fungicides, providing higher quality safer CBD infused nutraceutical and pharmaceutical products.
Cautionary Statement on Forward-Looking Information
Certain information contained in this press release, including any information as to Trait Bioscience Inc.'s (the "Corporation") strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The words "will", "expect", "continue", "assess", "anticipate" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions; including material estimates and assumptions that, while considered reasonable by the Corporation as at the date of this press release in light of each of management's experience and perception of current conditions and expected developments, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information.
Any forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Although management of the Corporation believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct.
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SOURCE Trait Biosciences Inc.
