March 16, 2018
Partner Cheryl Reicin has told the Institute of Corporate Directors’ publication Director Journal those considering joining the board of a public cannabis company should be prepared for a unique experience.
The article, which forms part of a larger feature on board of cannabis companies in its March/April 2018 edition, touches on some of the pressing points of consideration for those preparing to take up an opportunity to join the board of a cannabis company.
The uncertainly surrounding the industry as a whole means there are many unknowns when it comes to joining a board, which may result in a different experience to joining boards of other companies.
“We’re talking about big time commitments,” Cheryl told Director Journal.
Cheryl also said tough decisions would likely be more frequent, including decisions about who is the best person to run the company.
“There are so many things happening on a weekly basis,” she said.
Cheryl also discusses the importance of directors and officer insurance because “when there is a lot of volatility in an industry, there is more potential liability.”
Torys lawyers have written extensively on cannabis, which you can read on our dedicated cannabis trends page.