Financial control at the point of care
The enterprise dispenses medicines and provides related products and support through physical and digital channels. The Board seeks a Director who recognises that product custody, prescription integrity and financial reporting describe the same business. Profit must not depend on inappropriate substitution, unnecessary purchase, difficult cancellation or sale of inventory with uncertain provenance.
Chronic-care customers may rely on repeat supply and reminders. These relationships require clear consent, fair pricing, professional dispensing and continuity without turning a service arrangement into undisclosed marketing or pressure selling.
Situations this Director must govern
A commercially attractive substitute. The Board must know who can authorise a medicine change, when professional or prescriber review is needed and how the customer is informed. Owned products, supplier incentives and sales targets require independent conduct review. A pharmacist's decision cannot be overridden to improve basket margin.
A profitable-looking batch approaching expiry. Inventory must reconcile by batch, ownership, condition, temperature, recall and saleability. Returns, quarantine and supplier credits should be reflected promptly. Accounting provisions must follow lawful and realistic recoverability; moving stock between stores does not restore value.
A subscription that retains customers through friction. Examine enrolment, pricing, renewal, reminders, inclusions, cancellation, refunds and use of data. Customers should know whether a service is clinical, administrative or promotional. Retention measures should distinguish satisfaction from inability to exit.
An online order that bypasses store standards. Prescription validation, duplicate fulfilment, delivery, stock identity, professional review, counselling, refunds and records must follow consistent controls. Digital convenience must not create a weaker dispensing channel.
A supplier scheme that improves reported margin. Test contractual entitlement, free goods, retrospective rebates, expiry returns, price protection, credit notes and collection. Purchasing to earn a scheme may destroy inventory and cash value. Gross-to-net margin should include logistics, warranty, refunds and working capital.
A growing store network with insufficient professional capacity. Report mature and ramping locations separately, including pharmacists, quality, fulfilment, occupancy, central support and inventory. Store openings must be gated by professional readiness, not only fit-out and sales forecasts.
Audit Committee responsibility
Lead reviews of revenue, rebates, inventory, subscriptions, returns, leases, related parties, owned products, acquisitions, tax, treasury and internal financial controls. Maintain direct access to the CFO, internal auditor, quality and professional leaders.
The Board pack should connect dispensing incidents, prescription and substitution exceptions, expiry and quarantine, temperature failures, complaints, refunds, cancellation, supplier income, store cohorts, digital fulfilment, professional staffing and cash conversion. Assurance should combine surprise counts, prescription tracing, scheme reperformance and real customer-resolution cases.
Decisions that cannot remain solely commercial
New products, packages, financing partnerships, stores, warehouses, digital features and acquisitions should show clinical boundaries, lawful supply, professional capability, consent, quality, full economics and customer exit. Serious dispensing harm, concealed inventory, inappropriate pressure or record alteration must reach independent oversight promptly.
Experience and eligibility
Candidates should have at least 25 years across pharmacy, healthcare retail, distribution, consumer conduct, finance, audit, supply chain or regulated operations. Former CFOs, pharmacy or retail CEOs, quality leaders, audit partners and Audit Committee Chairs may be suitable.
Active inclusion in the IICA Independent Directors Databank is mandatory, together with applicable independence and eligibility requirements. Relationships with manufacturers, wholesalers, healthcare providers, marketplaces, landlords, lenders, auditors and investors must be declared. The seat may not be used to direct medicines, property, technology, finance or advisory work to connected parties.
Initial reviews will span stores, fulfilment, prescriptions, complaints, inventory, schemes and professional incentives. By year end, the Board should have realistic stock, complete margin, safer dispensing, fairer customer programmes and growth that does not profit from avoidable health or conduct risk.