Maria and Dr. King has been with Cellmid since the formation of the company. They must have therefore established a very close relationship. It is very rare to have this type of continuous employment in the same positions.
Maria has been CEO and Executive Director of Cellmid from day one. Similarly Dr. King has been the Chairman Cellmid from day one. Amongst the 2 they can authorize almost all the expenditure of the company and they represent the highest level of approvals except when it comes to their own salaries changes and bonuses. They can rent properties, they can buy assets. They can approve service agreements with vendors even if the vendors are owned by them or friends without being challenged. They can authorise travels, approve expenses, allowances, etc. No questions asked.
In short, they treat the company and its money as if it belongs to them. There is no internal auditing process or team and zero checks and balances.
In this situation I will be very surprised if Corporate Governance exists.
