- Push-out Score determined
- After about two years in the position
- Brad Hauser taking over
- Capelli will remain as Chief Science Officer and Vice Chairman of the Board at Soliton
- Capelli said 80 words
(exechange) — Houston, Texas, November 2, 2020 — Chris Capelli, chief executive of Soliton, leaves his position. As announced by Soliton Inc. in a news release and in a regulatory filing published on Monday, November 2, 2020, Christopher (Chris) Capelli leaves his post as chief executive officer of the medical device company after about two years in the role, effective immediately.
Chris Capelli’s duties as CEO will be taken over by Bradley (Brad) Hauser, most recently Vice President, R&D and General Manager for CoolSculpting of Allergan Aesthetics.
Already a director
Hauser is already a director of Soliton.
Directors-turned-executives represent a blend of outsider and insider.
Having been a director, Hauser understands the expectations and dynamics of the board and has knowledge of Soliton’s organization, risk-management practices and strategy.
“Commercialization effort”
Soliton did not give an explicit reason for Chris Capelli’s departure from the CEO post, leaving room for speculation. Capelli said: “With Brad leading the commercialization effort, I can remain focused on the continued development of the Soliton technology platform.”
Capelli will remain as Chief Science Officer and Vice Chairman of the Board at Soliton
“As part of the organizational transition, Soliton Co-Founder and Chief Scientific Officer Christopher Capelli, M.D. will advance from the CEO role to Vice Chairman of the Company’s Board of Directors and continue to lead Soliton’s research and development efforts,” Soliton said.
“Transitioned”
Soliton said: “On November 2, 2020, Dr. Chris Capelli transitioned to the position of Chief Science Officer and the Board appointed him as Vice Chairman of the Board.”
Share price decline since January 2020
The announcement follows a decline in Soliton Inc.’s share price of 35% since January 2020.
Chaired by Walter Klemp
Walter Klemp serves as Soliton Inc.’s Chairman.
In the position of CEO since 2018
Chris Capelli became CEO of the Company in 2018.
Capelli is a co-founder of the Company and has served as the Company’s chief executive officer since August 2018, president since March 2018 and chief science officer since September 2015.
From September 2014 through August 2015. Capelli was a consultant to the company.
Capelli is the lead inventor of Soliton’s RAP technology.
From March 2005 through August 2014, Capelli served as the vice president in the office of Technology Based Ventures at The University of Texas M. D. Anderson Cancer Center.
From March 2001 through February 2005, Capelli served the director of the Office of Technology Management at the University of Pittsburgh.
From 1987 through 1998, Capelli served the president and was the founder of BioInterface Technologies, Inc. which developed new a silver-based antimicrobial technology for use in wound care.
Capelli is a graduate of Massachusetts Institute of Technology with a Bachelor of Science degree in Mechanical Engineering.
Capelli earned his MD from the University of Wisconsin Medical School and maintains a medical license in the State of Wisconsin.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Soliton and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 45.2020 ($).