Merit Medical Announces Process for Chief Executive Officer Succession Planning
19 December 2023 - 8:05AM
Merit Medical Systems, Inc. (NASDAQ: MMSI), a leading global
manufacturer and marketer of healthcare technology, today outlined
the ongoing succession planning process for its Chief Executive
Officer (CEO). Pursuant to an Amended and Restated Employment
Agreement, effective June 8, 2023, Merit founder, CEO, and
President, Fred Lampropoulos, will continue to serve as Merit’s CEO
and President through December 31, 2025.
To carry out its responsibility for CEO succession, the Merit
Board of Directors appointed a special steering committee of
independent directors led by Ann Millner, Ed.D., Lead Independent
Director. The committee is developing and providing oversight of a
succession plan in preparation for Mr. Lampropoulos’ retirement.
The plan is also intended to prepare the company for a CEO
transition at the appropriate time. Korn Ferry, a leading executive
search firm, is currently assisting Merit’s Board of Directors in
the process of identifying potential internal and external
candidates.
“My fellow directors and I are committed to identifying a
successor with the capabilities inherent to Merit’s leadership
requirements, including the ability to identify and pursue new
strategic opportunities, attract and retain key talent, and build
on the tradition of innovation that has been a hallmark of the
company’s success,” said Dr. Millner. “We are focused on
implementing a thoughtfully developed CEO succession plan that will
maintain valued aspects of Merit’s culture and position the company
for future growth, development, and value creation.”
The company does not intend to provide further updates on the
process until such time as a successor is designated.
ABOUT MERIT MEDICAL Founded in 1987, Merit Medical Systems, Inc.
is engaged in the development, manufacture, and distribution of
proprietary disposable medical devices used in interventional,
diagnostic, and therapeutic procedures, particularly in cardiology,
radiology, oncology, critical care, and endoscopy. Merit serves
client hospitals worldwide with a domestic and international sales
force and clinical support team totaling more than 700 individuals.
Merit employs approximately 7,100 people worldwide.
TRADEMARKS Unless noted otherwise, trademarks and registered
trademarks used in this release are the property of Merit Medical
Systems, Inc., its subsidiaries, or its licensors.
CONTACTS PR/Media Inquiries Sarah Comstock Merit
Medical +1-801-432-2864 | sarah.comstock@merit.com
INVESTOR INQUIRIES Mike Piccinino, CFA, IRC ICR
Westwicke +1-443-213-0509 | mike.piccinino@westwicke.com
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