Invacare Appoints Kathleen Leneghan Chief Financial Officer
February 22 2018 - 6:19PM
Business Wire
Company also announces update regarding its Board of
Directors
Invacare Corporation (NYSE: IVC) today announced the appointment
of Kathleen P. Leneghan as Senior Vice President and Chief
Financial Officer, effective immediately. Ms. Leneghan has been in
the role of interim Chief Financial Officer of the company since
November 26, 2017.
“When she stepped into the interim role in November, Kathy made
our CFO transition seamless. She has a wealth of knowledge about
our global operations, and she is an insightful financial leader
and business partner. Invacare has a good mix of new and tenured
talent, and I am delighted to have those perspectives reflected in
our executive team. We will all benefit from Kathy’s experience and
leadership as we continue to make progress on our business
transformation,” said Matthew E. Monaghan, chairman, president and
chief executive officer.
“I am pleased to become CFO. Invacare is a great company with a
compelling mission,” said Ms. Leneghan. “I look forward to
partnering with Matt and progressing our transformation. We have a
significant opportunity to demonstrate sustained clinical value and
generate profitable growth, and, in turn, create long-term
shareholder value. Our financial health and performance are
critical to our success.”
Prior to her promotion, Ms. Leneghan was vice president and
corporate controller since 2003. She has been with Invacare for 27
years, serving in various financial roles in both North America and
Europe. Prior to joining Invacare, Ms. Leneghan was an audit
manager with Ernst & Young LLP.
Board Member Update
Separately, Invacare also announced that Michael J. Merriman,
who has been a director since 2014, will not stand for re-election
as a director of the company in 2018. His term as a director will
expire at the annual shareholder meeting in May. Mr. Merriman’s
decision to not stand for re-election to the Board is due to his
other personal and professional obligations and not due to any
disagreement with the company.
“Mike has been an invaluable member of our Board of Directors.
We have sincerely appreciated his guidance and financial
stewardship, particularly as we worked through the beginnings of
our transformation. We thank him for his commitment to Invacare and
wish him well,” said Mr. Monaghan.
“Invacare has made a tremendous amount of progress during my
four years on the Board of Directors. The team has a clear plan,
and they have demonstrated steady improvement. During my time as
chair of the audit committee, I worked closely with Kathy in her
role as corporate controller, and I have full confidence she will
be an outstanding CFO. I wish her, Matt, and the company the best
of luck,” said Mr. Merriman.
About Invacare Corporation
Invacare Corporation (NYSE: IVC) is a leading manufacturer and
distributor in its markets for medical equipment used in non-acute
care settings. At its core, the company designs, manufactures and
distributes medical devices that help people to move, breathe, rest
and perform essential hygiene. The company provides clinically
complex medical device solutions for congenital (e.g., cerebral
palsy, muscular dystrophy, spina bifida), acquired (e.g., stroke,
spinal cord injury, traumatic brain injury, post-acute recovery,
pressure ulcers) and degenerative (e.g., ALS, multiple sclerosis,
chronic obstructive pulmonary disease (COPD), elderly, bariatric)
ailments. The company's products are important parts of care for
people with a wide range of challenges, from those who are active
and involved in work or school each day and may need additional
mobility or respiratory support, to those who are cared for in
residential care settings, at home and in rehabilitation centers.
The company sells its products principally to home medical
equipment providers with retail and e-commerce channels,
residential care operators, distributors and government health
services in North America, Europe and Asia/Pacific. For more
information about the company and its products, visit Invacare's
website at www.invacare.com.
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Investor Inquiries:Invacare CorporationLara Mahoney,
440-329-6393
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