LivaNova PLC Announces Board and Committee Changes
December 07, 2020 at 08:07 am EST
Share
On December 2, 2020, the Board of Directors of Livanova PLC appointed Todd Schermerhorn to the Board, effective December 3, 2020. Upon Hugh Morrison's retirement, Mr. Schermerhorn will become Chair of the Audit and Compliance Committee. As a result, the LivaNova Board will temporarily expand to a total of 11 directors until Mr. Morrison's retirement, at which point it will return to 10 directors. Mr. Schermerhorn has 35 years of experience in global healthcare, including 27 years at C.R. Bard Inc. where he held various positions of increasing responsibility on the finance team, which culminated with his nine-year tenure as Chief Financial Officer. He was a Director of Thoratec Corporation and The Spectranetics Corporation, and currently serves on the boards of Metabolon Inc. and The Travelers Companies Inc., where he is the Independent Lead Director and chairs its Risk Committee. In addition, Hugh Morrison, Board Director and Chair of the Audit and Compliance Committee, indicated on December 2, 2020 that he will not stand for re-election at the LivaNova 2021 Annual General Meeting of Shareholders (2021 AGM") and will retire after five years of service on the Board, and nine years of service on the Board of Cyberonics Inc. prior to the merger with Sorin S.p.A. to form LivaNova. In addition, LivaNova announced that Dr. Arthur Rosenthal will rotate from the role of Chair of the Compensation Committee following the 2021 AGM. Dr. Rosenthal will remain a Director. Stacy Enxing Seng, who currently serves on the Compensation Committee, will assume the Chair role at that time. Ms. Enxing Seng joined the Board in 2019 and is also a Director of Sonova Holding AG and Hill-Rom Holdings Inc. She serves as a Venture Partner with Lightstone Ventures.
LivaNova PLC is a medical technology company. The Company designs, develops, manufactures, markets and sells products and therapies. Its segments include Cardiopulmonary, Neuromodulation and Advanced Circulatory Support (ACS). Cardiopulmonary segment is engaged in the design, development, manufacture, marketing and selling of cardiopulmonary products, including heart-lung machines (HLM), oxygenators, autotransfusion systems, perfusion tubing systems, cannula and other related accessories. It includes the Essenz Perfusion System, the Companyâs next-generation HLM with an embedded patient monitor for tailored patient care strategies. Neuromodulation segment is engaged in the design, development, manufacture, marketing and selling of devices that deliver neuromodulation therapy for treating drug-resistant epilepsy (DRE) and difficult-to-treat depression (DTD). The ACS segment is engaged in the development, production, and sale of temporary life support products.