- Push-out Score determined
- After around 10 years in the position
- Praise and thanks for Finizio
- Hugh O’Dowd taking over
- Finizio will remain as Vice Chair at TherapeuticsMD
- Finizio kept it short and said 58 words
(exechange) — Boca Raton, Florida, November 11, 2021 — This news came on Veterans Day. Rob Finizio, chief executive of TherapeuticsMD, leaves his position. As announced by TherapeuticsMD Inc. in a news release on Thursday, November 11, 2021, Robert G. (Rob) Finizio leaves his post as chief executive officer at the healthcare company, after around 10 years in the role, effective on or before December 31, 2021.
Rob Finizio’s duties as CEO will be taken over by Hugh O’Dowd, currently President at TherapeuticsMD Inc.
No reason given
In the announcement, TherapeuticsMD did not explicitly explain the reason for the move.
Finizio will remain as Vice Chair at TherapeuticsMD
“Mr. Finizio will continue with the Company and has been appointed Vice Chair of the Board of Directors,” TherapeuticsMD said.
Share price decline since November 2016
The announcement follows a decline in TherapeuticsMD Inc.’s share price of 87% since November 2016.
In the position of CEO since 2011
Rob Finizio became CEO of the Company in 2011.
Robert G. Finizio has served as Chief Executive Officer and a director of the Company since October 2011.
As co-founder of VitaMedMD, LLC, or VitaMed, the Company’s wholly owned subsidiary, Finizio served as its Chief Executive Officer and a director from April 2008 to October 2011.
Finizio has 19 years of successful early stage company development experience in the healthcare industry.
Finizio co-founded and served from August 2001 to February 2008 as President of Care Fusion, LLC and then as Chief Executive Officer of CareFusion, Inc., a clinical technology vendor, which was acquired by Cardinal Health, Inc.
Finizio’s early business experience was with Omnicell, Inc. (formerly known as Omnicell Technologies, Inc.), a provider of pharmaceutical supply chain management systems and services, and Endoscopy Specialists, Inc. in the healthcare IT and surgical space.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Rob Finizio’s move on a scale of 0 to 10.
exechange reached out to TherapeuticsMD and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 46.2021 ($).