Is There a Swinging Door in Medtech?
In a surprise announcement, yesterday Senseonics Holdings announced its chief financial officer, Nick Tressler, has transitioned from his position effective Sept. 1. The company, which develops and manufactures long-term, implantable continuous glucose monitoring (CGM) systems for people with diabetes, reported that the position will be filled by its vice president of finance, Rick Sullivan. In light of the transition, Tressler will continue on in a supporting role through the end of the year to ensure an orderly change, according to Senseonics.
“On behalf of the Senseonics team, I want to thank [Tressler] for his dedication and expertise over the past three and a half years,” said Tim Goodnow, president and chief executive officer at Senseonics. “He played a key role in supporting our strategic initiatives to create value, building our finance and accounting function, and strengthening the Company’s balance sheet. We wish him well in his future endeavors.”
Sullivan has served as the company’s vice president of finance since October 2020. He has previously served as treasurer and controller of Sensonics and in progressive finance positions with the company. Prior to joining Seneonics, he was a principle at Hike Financial and chief financial officer of RoosterBio.
“Having worked with [Sullivan] for over nine years, he has proven to be an integral part of our team and holds an exceptional track record of delivering value and supporting the long-term strategic vision of Senseonics,” said Goodnow. “I am confident his leadership ability will drive our operational and financial performance forward.”
This announcement is just another in a long list of medtech turnover this year. Even as recent as earlier this week, Invacare let go of its CEO and president, Matthew Monaghan. This is a continuing trend in 2022. Despite over half (57%) of the nearly 400 medtech professionals who took part in MD+DI’s 2022 Medtech Salary Survey indicating they were not considering a new job this year, the great resignation seems to be taking no prisoners.
Article source: MDDI