- After about eight months in the position
- Praise and thanks for McAuley
- Groovy Singh taking over
(exechange) — Grants, New Mexico, October 3, 2023 — Seamus McAuley, chief executive of Bright Green, leaves his position. As announced by Bright Green Corp. in a news release on Tuesday, October 3, 2023, Seamus McAuley leaves his post as chief executive officer at the cannabis company, after about eight months in the role.
Generally speaking, it raises questions when a CEO leaves his post abruptly and after a short tenure.
Seamus McAuley’s duties as CEO will be taken over by Gurvinder (Groovy) Singh, most recently Chief Marketing Officer at Glass House Brands.
The fact that Seamus McAuley’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
In general, an outsider does not have the constraints of an insider when it comes to leading painful changes or making unpopular decisions.
On its website, Bright Green already lists Groovy Singh as Chief Executive Officer.
“To address recently developed health-related concerns”
The management change is explained as follows. Bright Green stated: “Singh will replace current CEO Seamus McAuley, who is stepping back from the position to address recently developed health-related concerns.”
Precise information regarding Seamus McAuley’s future plans was not immediately available.
Share price decline since February 2023
The announcement follows a decline in Bright Green Corp.’s share price of 74% since February 2023. February 2023 is the month in which McAuley’s tenure as CEO began.
In the position of CEO since 2023
Seamus McAuley became CEO of the Company in 2023.
McAuley will assume an advisory role to Singh during the transition to continue facilitating the company’s success while remaining focused on his recovery.
Seamus McAuley has been BGC’s Chief Executive Officer since February 2023.
From June 2021 to February 2023, McAuley was the Chief Executive Officer of Alterola Biotech Inc., a UK based pharmaceutical company developing cannabinoid, cannabinoid-like, and non-cannabinoid pharmaceutical active pharmaceutical ingredients (APIs) and targeting European novel food approval of cannabinoid-based, cannabinoid-like and non-cannabinoid ingredients and products.
McAuley has been the Chief Executive Officer of Opes Medical Holdings Ltd. (“OPES”) since founding the company in July 2019.
OPES is a consultancy offering strategic executive services for the development of new and innovative medical technologies and in- vitro diagnostics, accessing funding sources and commercial launch of products.
Before founding OPES, McAuley held several senior level sales and commercialization positions.
From September 2018 to July 2019, McAuley was the European Corporate Development Manager for Diploma PLC, an international group of businesses supplying specialized technical products and services to the life sciences sector, where he was responsible for identifying, targeting, assessing and closing company acquisitions in strategically identified geographic zones and market sectors.
Prior to that, from July 2011 to July 2019, McAuley was Sales and Commercial Director (UK & Ireland) for Technopath Distribution Ltd., an international manufacturer and distributor of clinical diagnostic products, where he more than doubled sales.
McAuley earned diplomas in counselling and nursing from the University of Ulster.
No statement by Seamus McAuley
In the release announcing his departure as CEO of Bright Green Corp., Seamus McAuley received praise and thanks.
The announcement of his departure as CEO does not include a statement by Seamus McAuley.
Push-out Score for Seamus McAuley’s move determined
The Push-out Score indicates on a scale of 0 to 10 how likely it is that Seamus McAuley was pushed out or felt pressure to leave his position.
exechange reached out to Bright Green and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 41.2023 ($).