The CFO and COO of medical device manufacturer ImpediMed (ASX:IPD) has resigned off the back of a realignment and restructure of the business.
Peggy Brooker joined the group three years ago as vice-president of global finance before being promoted to CFO and then CFO and COO. ImpediMed CEO, Richard Carreon, thanked her for building a team of professionals and leaving the group in a strong position to manage the next business phase.
The company has promoted director of finance for strategic planning, Morten Vigeland, to vice-president of global finance.
ImpediMed also announced the departure of four staff including senior vice-president of sales and marketing, William Gearhart, and senior vice-president of business development, Jack Butler, following completion of its US restructure.
ImpediMed revealed plans to cut staff from 42 to 29 last August in an organisational realignment aimed at improving the focus on its core lymphoedema business. The company operates in the US and Australia but flagged delays to its expansion into Germany and Japan.
“Our realignment efforts have already delivered significant value in terms of dramatically lowering our cost structure, while driving double-digit growth in our core lymphoedema business,” CEO, Richard Carreon, said.
“Although we will continue to focus on disciplined financial controls, we will be accelerating our investments in those initiatives that offer the greatest opportunity for growth. We believe these actions will better position ImpediMed to create value for our shareholders and improve the quality of life for patients.”