On September 29, 2017, Velan Inc. lost its founder and long-time leader. A.K. Velan passed away peacefully in his sleep at the Montreal General Hospital where he was being treated for complications related to pneumonia. He was just a few months short of his 100th birthday.
The Velan website reports: “there is a deep sense of loss, but, at the same time, there is good reason to celebrate A.K. Velan’s extraordinary life. With his boundless energy, enthusiasm and passion for the business he built and his many philanthropic initiatives, he touched so many lives and will continue to be an inspiration to all.”
Velan Holding Co. Ltd. continues to be the controlling shareholder of the Company and it is controlled by A.K. Velan’s three sons, Ivan, Peter and Tom Velan. In May 2015, A.K. Velan retired from the Board of Directors and was since no longer actively involved in the Company. Velan Inc. is now led by Yves Leduc, CEO and President, after a successful two-year transition culminating in Tom Velan retiring as CEO and remaining as Chairman of the Board.