- Push-out Score determined
- After less than two years in the position
- Praise and thanks for Pettigrew
- Jim Beck taking over in the interim
- Search for a successor
(exechange) — Chester, New York, January 26, 2021 — Don Pettigrew, chief executive of Repro Med, leaves. As announced by Repro Med Systems Inc. in a news release published on Monday, January 25, 2021 and in a regulatory filing published on Tuesday, January 26, 2021, Donald B. (Don) Pettigrew has left his post as chief executive officer of the medical technology company which conducts its business as Koru Medical Systems after less than two years in the role, effective January 22, 2021.
Repro Med will undertake a search for a successor.
Don Pettigrew’s duties as CEO will be taken over in the interim by James M. (Jim) Beck, most recently Executive Chairman of Medical Specialties Distributors, as Interim Chief Executive Officer.
Jim Beck is about 20 years older than Don Pettigrew.
Already a director
Beck is already a director of Repro Med. Generally speaking, most director-turned-CEO appointments occur following a sudden resignation of the outgoing CEO and signal a lack of preparedness on the company’s part to groom internal talent. Directors-turned-executives represent a blend of outsider and insider.
They don’t have the constraints of a pure insider when it comes to leading painful changes or making unpopular decisions, and they have more company knowledge than a pure outsider.
Having been a director, Beck understands the expectations and dynamics of the board and has knowledge of Repro Med’s organization, risk-management practices and strategy.
No reason given
In the announcement, Repro Med did not explicitly explain the reason for Don Pettigrew’s move, leaving room for speculation.
Precise information regarding Don Pettigrew’s future plans was not immediately available.
Repro Med said: “Don Pettigrew has resigned as President and CEO.”
Repro Med further said: “On January 22, 2021, Donald B. Pettigrew, President and Chief Executive Officer, resigned his employment effective immediately.”
Share price decline since May 2020
The announcement follows a decline in Repro Med Systems Inc.’s share price of 54% since May 2020.
Chaired by John Fletcher
John Fletcher serves as Repro Med Systems Inc.’s Chairman.
In the position of CEO since 2019
Don Pettigrew became CEO of the Company in 2019.
Pettigrew has more than 23 years of sales and business development experience in the medical device industry, including the home infusion space.
Prior to joining Koru in 2018, Pettigrew held senior leadership positions at market leading medical firms such as Moog, Inc. as Group Director, Global Business Development and Group Director, Global Sales and Professional Services from 2011 through 2018, where he led commercialization and business development for the IV infusion and enteral feeding franchises in both the U.S. and international markets.
Pettigrew also held management positions at Baxter (formerly Gambro) from 2008-2011, Boston Scientific from 1995-2008, and E&J Gallo from 1990-1995.
Pettigrew earned his B.A. in Biology from the University of Colorado.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Don Pettigrew’s move on a scale of 0 to 10.
exechange reached out to Repro Med and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 5.2021 ($).