Trait Appoints International Marketing Executive, and former Diageo N.A. President & Chief Marketing Officer, Peter McDonough to Board of Directors
TORONTO, Oct. 1, 2018
TORONTO, Oct. 1, 2018 /PRNewswire/ -- Trait Biosciences Inc., a bio-technology leader in the cannabis industry, announced today that Peter J. McDonough, one of the world's leading consumer brand and marketing experts, has joined its Board of Directors, effective immediately.
McDonough has more than 30 years leadership experience across multiple industries, building some of the world's most iconic consumer brands. After completing his tenure as President, Chief Marketing & Innovation Officer for Diageo North America, where his portfolio included the top two largest spirits franchises in the world and 20 of the world's top 100 spirits brands, McDonough now serves as a consultant and Board advisor to many innovative startups and craft beer and spirits companies.
McDonough joins Trait's Board to support the company's renowned team of research scientists led by Dr. Richard Sayre (recognized by Nature as one of the "top five crop researchers who could change the world") and recently appointed Trait executives Joseph del Moral, Hannan Fleiman and Ronan Levy, each bringing strong experience in building successful cannabis operations at Aurora Cannabis Inc., Canadian Cannabis Clinics and CanvasRx Inc.
Trait's proprietary technologies are breakthroughs in the development of enhanced cannabinoids offering improved onset, taste, stability and bioavailability. Its advanced process for generating water-soluble cannabinoids, which does not rely on emulsions or nanotechnology, solves a major barrier for improving the predictability and enhancing the consumer experience of cannabis edibles and beverages.
"Trait's mission is to develop technologies that ensure consumers will have a safe, reliable, enjoyable and predictable experience each time they use a cannabis or hemp product. Our water-soluble conversion process promises to deliver that experience," said Joseph del Moral, Chief Executive Officer for Trait. "As a recognized leader in the alcohol, beverages and consumer products industries, Peter's experience, wisdom and voice will help ensure that our technologies have the greatest reach and impact on the industry."
McDonough added: "There's increasing momentum and interest in cannabis and CBD infused edibles and beverages. Yet the current technologies used to integrate cannabinoids into these products deliver compromises in quality and pose unanswered health and safety concerns. As a Board member, I'm excited to support Trait's groundbreaking scientific advances in several areas, particularly in the development of water-soluble cannabinoids, that will serve as the foundation for developing safer, superior quality products in our industry."
In appointing McDonough to the Board, Trait taps into the expertise of a proven global leader. Peter previously served as Procter & Gamble's Vice President of European Marketing in Switzerland 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's current Board of Director experience includes roles on the advisory board of Viridian Capital Advisors, a leading financial advisory firm dedicated to the cannabis industry, and on the Board of Empower Clinics, a leading owner and operator of medical cannabis and wellness clinics in the US.
McDonough is an alumnus of Cornell University and holds a Master of Business Administration from the Wharton School of Business.
With a team of internationally recognized scientists who are applying best-in-class technology and agricultural science, Toronto-based Trait is an emerging biotechnology leader in the cannabis industry. Its Consumer Division is developing technologies to create enhanced cannabinoids that have improved taste, scent, onset, bioavailability and stability, including a process for generating water-soluble cannabinoids that does not rely on nanotechnology. Trait's Producer Division is developing technologies to increase yields and plant safety, including its ultrahigh yield "Super Producer" plants that can generate dramatically greater yields than other plants, and its RNAi crop protection platform, which reduces the accumulation of toxins in cannabis without the need for pesticides or fungicides, providing for more consistent and safer cannabis 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.