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Althea Reveal New Leadership Team Following Global Reorganisation 

Althea Group Holdings Limited (ASX:AGH) (‘AGH’), today announced their new senior leadership team following the successful completion of company restructuring. After five years working for AGH, initially supporting the Althea business and then overseeing Strategy and Operations for MyAccess Clinics, Karen Bowell will be heading up the Althea business as newly appointed Global Managing Director.

Karen will be supported by Gareth Beynon, with 20+ years in pharmaceutical sales and marketing, as Global Sales and Marketing Director and Hamish Knight, as Head of Global Operations. Dr Martin Guscott, PhD, will support the team as Interim Global Medical Affairs Manager. Amy Kelly, Vice President of Human Resources and Global Culture at Peak, will now support all employees across AGH companies.

“The reorganisation presents Althea with an opportunity to review our successes over the past seven years and recalibrate in line with our updated strategy,” says Karen Bowell, Global Managing Director at Althea. “We have achieved significant internal efficiencies, including streamlining core functions to support our continued growth in established markets such as Australia, the UK, Ireland, and Germany. This reorganisation will also enable us to focus on expanding our innovative product range, normalising medical cannabis, and forming exciting new global partnerships. We are committed to attracting and retaining great people to take Althea to the next stage and focus on expanding into emerging European markets. Watch this space.”

A key focus for Althea in 2023 was the development of their new Global strategy, which oversaw the successful launch of Althea Softgel Capsules, making Althea the first global company to offer a portfolio of CBD-dominant, balanced, and THC-dominant, EU-GMP, full-spectrum cannabis softgel capsules.

“Indeed, the recent changes have taken place to strengthen Althea’s capabilities and review capacity across the team, globally. The key to our success will be closer alignment with our key mission to evolve the medicinal cannabis industry and empower healthcare professionals to best support their patients”, says Gareth Beynon, Global Sales and Marketing Director at Althea. “We believe these changes will ensure the ongoing success of the company as leaders in the industry and the longevity of the supply of medicines to our customers and their patients”.

Now in the final phases of reorganisation, the Company’s attention is directed toward optimising the supply chain to enhance cash flow management. The team are working closely with suppliers to transition to a Just-in-Time (JIT) inventory management method, along with negotiating improved cost pricing and payment terms. These efforts aim to reduce the cash-to-cash cycle and enhance overall supply chain efficiency. The team are also laser-focused on improving the consistency of supply whilst maintaining high-quality products.

“Supply chain optimisation is ongoing and aims to deliver even further savings and significant cash flow improvements”, says Hamish Knight, Head of Global Operations at Althea. “This will allow for the reinvestment into other departments, such as our sales and marketing teams to support ongoing growth.”

About Althea: Althea Group Holdings Ltd (‘AGH’) is a global leader in the manufacturing, sales and distribution of cannabis-based medicines and recreational cannabis products. Althea, the company’s pharmaceutical business, offers a comprehensive range of cannabis-based medicines which are made available to patients via prescription. Althea operates in highly regulated global medical markets with dedicated operations in Australia and Europe.

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