Ekso Bionics Announces Leadership Transition
Board Member Steven Sherman to be Appointed CEO
EVP Scott Davis to be Appointed President and COO
CEO Jack Peurach to Leave the Company Effective January 21, 2022
RICHMOND, Calif., Jan. 21, 2022 (GLOBE NEWSWIRE) -- Ekso Bionics Holdings, Inc. (Nasdaq: EKSO) (the “Company”), an industry leader in exoskeleton technology for medical and industrial use, today announced that Jack Peurach, who has served as the Company’s Chief Executive Officer since 2018, has informed the Company’s Board of Directors (the “Board”) of his decision to leave the Company effective January 21, 2022 to pursue other endeavors. He has also stepped down from the Company’s Board effective January 21, 2022.
Effective January 22, 2022, the Board has appointed Steven Sherman, who has served as Ekso Bionics’ Chairman of the Board since 2014, to become Chief Executive Officer, and has promoted Scott Davis, the Company’s Executive Vice President of Strategy and Corporate Development, to President and Chief Operating Officer. In addition, the Board has designated current Board member Stanley Stern to serve as the Board’s Lead Independent Director effective upon Mr. Sherman’s commencement as Chief Executive Officer.
“Ekso Bionics posted record revenue for the fourth quarter, which we believe reflects continued momentum and progress with leading inpatient rehabilitation providers across all regions, as well as greater sales in our industrial segment,” Mr. Stern said. “This performance and the opportunities we see ahead give us confidence in our future.”
Mr. Stern continued, “Jack has led the Company through several difficult years, guiding the Company to growth and through a very successful financing last year, despite the impact of COVID. On behalf of the entire Board, we thank him for his service to Ekso Bionics. We are delighted that Steven has agreed to take on the CEO role in addition to his service as Chairman. Steven has demonstrated deep commitment to the Company, having invested significant amounts of his personal capital since 2013, when he began working with Ekso Bionics. We originally appointed Steven as Chairman because of his extensive track record of success and growth as an executive, chairman or board member of several technology-based, publicly traded companies. He has been highly engaged, and during his time as CEO, we expect the Company and our shareholders will benefit as he leads the evolution of our strategy to drive enhanced value for all stakeholders.”