LivaNova shares tumble on CEO exit, Q3 earnings report

LivaNova (NSDQ:LIVN) shares slid nearly 15% today after the company announced the resignation of CEO André-Michel Ballester and released its 3rd quarter earnings. The London-based company said its current CEO Ballester will resign effective December 31 this year, to be replaced by current COO Damien McDonald. Ballester served as CEO at Sorin from 2007 to 2015, up to the merger that created LivaNova when the company joined with Cyberonics, the company said. “On behalf of the LivaNova board of directors, I would like to thank André-Michel for his highly successful 12-year career with LivaNova and Sorin. André-Michel integrated two remarkable companies into one, creating a stronger and well-positioned medical-device company with significant opportunities for growth. Damien’s background and credentials are ideally suited to assume leadership of LivaNova. The Board is highly confident in his ability and readiness to further develop and deliver on LivaNova’s mission to continue to improve health worldwide,” board chair Dan Moore said in a press release. McDonald joined LivaNova from a position as corp veep & group exec at Danaher, the company said, and previously worked as group prez of Kerr and operated as Zimmer’s spine division head. “I am honored to succeed André-Michel, and I want to thank him for his service and substantial contributions. LivaNova is united in its passion, focus and commitment in serving our customers and patients around t...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Business/Financial News LivaNova Source Type: news