Obalon Appoints Bob MacDonald as Chief Retail Officer
June 10 2019 - 8:30AM
Obalon Therapeutics, Inc. (NASDAQ:OBLN), a vertically integrated
medical technology company with the first and only FDA-approved
swallowable, gas-filled intragastric balloon system for the
treatment of obesity, announces the appointment of Bob
MacDonald to the newly created position of Chief Retail Officer. In
this role, Mr. MacDonald will be primarily responsible for
establishing Obalon-owned retail clinics focused on weight loss
utilizing the Obalon Balloon System.
“Bob’s outstanding experience in developing a successful
national chain of aesthetic retail medical clinics for Sono Bello
is a natural fit for Obalon, as we implement a retail-focused
initiative to bring our proven weight loss solution to more
patients,” said William J. Plovanic, Obalon’s President and Chief
Financial Officer. “His proven ability to build and manage
consumer-driven businesses provides an important skill set to our
management team as we embark on the Company’s next chapter.”
“I am delighted to join the Obalon team, and to begin pursuing
the strong consumer interest in the Obalon Balloon System, to more
efficiently convert patient interest into actively treated
patients,” said Mr. MacDonald. “The Company’s initiative on the
retail medicine segment is an exciting proposition, and I am
looking forward to executing on our mission to help obese
individuals lose weight, look great, feel great and improve their
overall health with our novel FDA-approved technology.”
With over 25 years of corporate development and management
experience, Mr. MacDonald has been helping retailers and consumer
services companies develop and execute strategies to acquire new
customers, expand into new markets, and drive profitable growth. In
his most recent role, Mr. MacDonald was VP of Growth for Sono
Bello, where he expanded the network of cosmetic surgery clinics
from 16 in 2016 to over 40 in 2019. He was responsible for real
estate, construction, staffing, and operational ramp-up for all new
clinics, opening up 15 new markets in the Midwest, mid-Atlantic,
and Southwest regions. Mr. MacDonald was also responsible for the
launch and testing of new products and services within Sono Bello,
including the Obalon Balloon System.
Prior to Sono Bello, he held both corporate strategy and
management leadership roles at Staples (7 years) and McDonald’s (10
years), where he led the operational turn-around of over 800
McDonald’s restaurants. Mr. MacDonald also has over 10 years of
experience in management consulting with Ernst & Young and
Oliver Wyman, and is currently working as an independent
consultant, where his clients have included Wal-Mart and Comcast.
Mr. MacDonald holds a BA degree in Economics from the University of
Notre Dame, and earned his MBA from Harvard Business School.
As part of the transition to a revised, more focused commercial
strategy, Obalon continues to improve the efficiency of its
operations and reduce operating expenses. The Company has offered
voluntary separation packages to approximately 15 employees,
including several senior executives. No assurances can be given
that all employees offered these packages will accept.
About Obalon Therapeutics, Inc. Obalon
Therapeutics, Inc. (NASDAQ:OBLN) is a San Diego-based company
focused on developing and commercializing novel technologies for
weight loss. For more information, please
visit www.obalon.com.
Forward-Looking StatementsTo
the extent that statements contained in this press release are not
descriptions of historical facts regarding Obalon Therapeutics,
they are forward-looking statements reflecting the current beliefs
and expectations of management made pursuant to the safe harbor of
the Private Securities Reform Act of 1995. Such forward-looking
statements involve substantial risks and uncertainties that could
cause Obalon Therapeutics' future results, performance or
achievements to differ significantly from those expressed or
implied by the forward-looking statements. Obalon Therapeutics
undertakes no obligation to update or revise any forward-looking
statements. For a description of the risks and uncertainties that
could cause actual results to differ from those expressed in these
forward-looking statements, as well as risks relating to Obalon
Therapeutics' business in general, please refer to Obalon
Therapeutics’ annual report on Form 10-K filed with the Securities
and Exchange Commission on February 22, 2019, Form 10-Q filed with
the Securities and Exchange Commission on May 10, 2019, and its
future periodic reports filed with the Securities and Exchange
Commission.
For Obalon Therapeutics, Inc.Investor Contact:
William Plovanic President and Chief Financial Officer Obalon
Therapeutics, Inc. Office: +1 760 607 5103wplovanic@obalon.com
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