Titan Medical Announces Chief Financial Officer Retirement and Successor Appointment
September 08 2020 - 08:00AM
Business Wire
Titan Medical Inc. (“Titan” or the “Company”) (TSX: TMD)
(Nasdaq: TMDI), a medical device company focused on the design
and development of single-port robotic surgical technologies, today
announced its Chief Financial Officer (CFO) Stephen Randall will
retire after more than 10 years with Titan. As part of the
Company’s succession planning process, Monique L. Delorme,
currently Vice President, Finance at Titan, will be promoted to CFO
effective October 1, 2020.
During his tenure at Titan, Mr. Randall played a leading role in
financing Titan through 30 capital transactions, raising more than
US $260 million to fund the Company’s research and development in
robotic surgical technologies.
“For the past 10 years, Stephen has played a pivotal role in
Titan’s journey from an early stage start up to become a leader in
single-port robotic surgical technologies,” said David McNally,
President and CEO of Titan Medical Inc. “Stephen’s leadership,
guidance and unwavering commitment to Titan has been vital to our
business - and for that we thank him. I am also pleased that
Stephen will remain with the Company in his capacity as a director
of the board and will continue to guide the Company toward
realizing its vision for improving patient outcomes with its
single-port robotic surgical system.”
Ms. Delorme joined the Company in March of 2019 and has been
working closely with Mr. Randall during this transition period.
Ms. Delorme brings over 25 years of senior corporate leadership
experience in the areas of finance, operations, corporate strategy
and change management. She has served as a financial executive for
several large and small publicly traded companies where she earned
a reputation as a strategic leader with strong execution and
communications skills. In 2012, she launched a successful
consulting practice providing financial and CFO services to both
private and public companies. Ms. Delorme is a Certified Public
Accountant and a graduate of McGill University.
“On behalf of the Board of Directors and Titan employees, I
would like to thank Stephen for his dedication and contributions to
Titan and wish him the best for a well-deserved retirement,” said
David McNally. “I am excited for Monique’s promotion to CFO, having
worked together with her during the transition period. Her
experience and leadership skills, as well as her in-depth
understanding of Titan’s financial operations, made her the obvious
choice as our new CFO. I welcome Monique to the executive team and
look forward to her continuing contributions to Titan.”
About Titan
Titan Medical Inc. is focused on robotic-assisted technologies
for application in minimally invasive surgery (“MIS”). Titan is
developing a single-port robotic surgical system comprised of a
surgeon-controlled patient cart that includes a dual-view camera
system with 3D and 2D high-definition vision systems and
multi-articulating instruments for performing MIS procedures, and a
surgeon workstation that provides an ergonomic interface to the
patient cart and a 3D high-definition endoscopic view of the MIS
procedure. Titan intends to initially pursue gynecologic surgical
indications for use with its single-port robotic surgical
system.
For more information, visit www.titanmedicalinc.com.
Forward-Looking Statements
This news release contains “forward-looking statements” within
the meaning of applicable Canadian and U.S. securities laws. Such
statements reflect the current expectations of management of the
Company’s future growth, results of operations, performance and
business prospects and opportunities. Wherever possible, words such
as “may”, “would”, “could”, “will”, “anticipate”, “believe”,
“plan”, “expect”, “intend”, “estimate”, “potential for” and similar
expressions have been used to identify these forward-looking
statements. These statements reflect management’s current beliefs
with respect to future events and are based on information
currently available to management. Forward-looking statements
involve significant risks, uncertainties and assumptions. Many
factors could cause the Company’s actual results, performance or
achievements to be materially different from any future results,
performance or achievements that may be expressed or implied by
such forward-looking statements, including, without limitation,
those listed in the “Risk Factors” section of the Company’s Annual
Report on Form 20F dated March 30, 2020 (which may be viewed at
www.sedar.com and at www.sec.gov). Should one or more of these
risks or uncertainties materialize, or should assumptions
underlying the forward-looking statements prove incorrect, actual
results, performance, or achievements may vary materially from
those expressed or implied by the forward-looking statements
contained in this news release. These factors should be considered
carefully, and prospective investors should not place undue
reliance on the forward-looking statements. Although the
forward-looking statements contained in the news release are based
upon what management currently believes to be reasonable
assumptions, the Company cannot assure prospective investors that
actual results, performance or achievements will be consistent with
these forward-looking statements. Except as required by law, the
Company expressly disclaims any intention or obligation to update
or revise any forward-looking statements whether as a result of new
information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20200908005127/en/
Stephen Randall Chief Financial Officer +1-416-548-7522
stephen@titanmedicalinc.com
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