ALPHARETTA, Ga., Jan. 11,
2023 /PRNewswire/ -- Avanos Medical, Inc. (NYSE:
AVNS) today announced two executive leadership appointments that
support the company's long-term strategic priorities: Michael Greiner has been named chief
transformation officer (in addition to his current responsibilities
as senior vice president and chief financial officer), and
Kerr Holbrook has been named senior
vice president and chief commercial officer.
![(PRNewsfoto/Avanos Medical Inc.) (PRNewsfoto/Avanos Medical Inc.)](https://mma.prnewswire.com/media/713850/Avanos_Logo.jpg)
"Our global teams have been working diligently to identify
changes that will allow us to reimagine our business and create
sustainable value for both internal and external stakeholders,"
said Joe Woody, chief executive
officer. "We have established the groundwork for a three-year
transformation aimed at optimizing our commercial organization and
enhancing our financial performance. Our chief financial officer,
Michael Greiner – who has led many
of our efforts in margin improvement, M&A, and free cash flow
generation – will take on the additional and newly created role of
chief transformation officer. In that position, he will lead our
transformation efforts as we remain focused on achieving our
strategic and financial priorities."
The transformation will be focused on four key priorities over
the next three years: optimizing the commercial organization,
transforming the product portfolio, implementing cost management
initiatives to enhance operating profitability, and continuing to
efficiently deploy capital while maintaining a focused and
disciplined approach to M&A.
Greiner added, "We have made meaningful improvements to our
profitability measures and free cash flow generation over the past
18 months while working through a range of macro dynamics. These
improvements have established the initial framework for this
transformation, which we believe will further enhance our
operational and financial performance. We are laser-focused on
the execution of these four priorities to ensure we have an aligned
and cohesive strategy."
Effectively immediately, Avanos will bring the North America
Chronic Care and Pain franchise functions under one organization,
led by Kerr Holbrook in the
company's newly created role of senior vice president and chief
commercial officer.
Holbrook joined Avanos in 2019 as senior vice president and
general manager for the company's Chronic Care franchise. His
background includes more than 25 years as a healthcare industry
executive focused on sales, marketing, strategy and general
management. Prior to joining Avanos, Kerr served as chief
commercial officer at AlloSource, a global biologic and
regenerative implant company.
"I'm enthusiastic about the many benefits this new structure is
expected to bring to Avanos, including improved best-practice
sharing, a more consistent strategic approach, and an enhanced
ability to scale critical functions like digital marketing and
strategic analytics," said Holbrook. "With twin goals of
accelerating sales and improving our commercial impact, our unified
commercial organization is designed to help us drive efficiencies
and focus on core categories and channels."
"I am confident that under Kerr's leadership, our new commercial
structure will enable us to accelerate sales and improve our
overall impact in the market," stated Woody. "We believe our
three-year transformation will deliver significant value to our
shareholders and the other stakeholders who have an interest in
Avanos. We look forward to providing additional color on our
transformation efforts during our year-end earnings call on
Feb. 21."
About Avanos Medical,
Inc.
Avanos Medical, Inc. (NYSE: AVNS) is a medical technology
company focused on delivering clinically superior breakthrough
medical device solutions to improve patients' quality of life.
Headquartered in Alpharetta,
Georgia, Avanos is committed to addressing some of today's
most important healthcare needs, such as reducing the use of
opioids while helping patients move from surgery to recovery.
Avanos develops, manufactures and markets its recognized brands in
more than 90 countries. For more information, visit
Avanos.com and follow Avanos Medical on Twitter
(@AvanosMedical), LinkedIn and Facebook.
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SOURCE Avanos Medical, Inc.