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Electromed, Inc. (NYSE:ELMD), a leader in innovative airway clearance technologies, today announced that Kathleen Skarvan will retire as President and Chief Executive Officer with a target effective date on or around July 1, 2023. After her retirement she will serve as a non-employee member and chair of the company's board of directors. The Board of Directors is conducting a comprehensive search to identify a new President and CEO and engaged a national executive search firm to assist in the process.
Ms. Skarvan has served as the company's Chief Executive Officer since 2012, joined the board of directors in 2013 and added the title of President in 2016. During her tenure leading the company, Ms. Skarvan has helped position Electromed as a leader in HFCWO airway clearance technology and has overseen a tripling of revenues and consistent profitability since 2015. Most recently, she implemented a multi-pronged strategic growth initiative that has resulted in a larger and more productive commercial team, increased market share and recently announced the limited market release of the fifth generation of innovation in airway clearance, the SmartVest® Clearway™.
"It has been a privilege to lead Electromed for over ten years, and with the Company well positioned for continued success, I believe now is the right time to begin the transition to the next generation of leadership," stated Ms. Skarvan. "I look forward to continuing to work with the Board and management team over the coming months to identify an exemplary leader for our business and to ensure a successful transition."
"On behalf of the Board, I would like to thank Kathleen for her vision and dedication during her tenure as CEO, and we are excited to welcome her as Board Chair following her retirement," said Lee Jones, Chair of the Board. "In the meantime, the Board is committed to finding a world-class successor for Kathleen, and is grateful to have her continued leadership and guidance throughout this transition process."
Posted In: ELMD
