- Push-out Score determined
- After about three years in the position
- Praise and thanks for Klein
- Stacey Stevens taking over
- Klein will remain as Chairman at Icad
- Klein spoke at length and said 154 words
(exechange) — Nashua, New Hampshire, December 6, 2021 — Michael Klein, chief executive of Icad, leaves his position. As announced by Icad Inc. in a news release on Monday, December 6, 2021, Michael Klein leaves his post as chief executive officer at the medical technology company, after about three years in the role, effective March 1, 2022.
Michael Klein’s duties as CEO will be taken over by Stacey Stevens, currently President at Icad Inc.
“Important inflection point”
Icad did not give an explicit reason for Michael Klein’s departure from the CEO post. Michael Klein said: “We are currently at an important inflection point, with the recent launch of several first-in-kind technologies and the Company’s increasing focus on enterprise sales on the Detection side of the business, and with the expansion of Xoft in emerging applications, such as the treatment of brain tumors, on the Therapy side of the business.”
Klein will remain as Chairman at Icad
“Michael Klein, who currently serves as the Company Chairman and CEO, will continue to serve as Chairman of iCAD’s Board of Directors,” Icad said.
Share price decline since April 2021
The announcement follows a decline in Icad Inc.’s share price of 65% since April 2021.
In the position of CEO since 2018
Michael Klein became CEO of the Company in 2018.
Michael Klein is the Company’s Chairman and Chief Executive Officer.
Klein has served as the Chief Executive Officer at Inflection Point Consulting, an executive coaching and consulting firm with a focus on medical technology, biopharma and healthcare services, since December 2014.
Since 2019, Klein has served as a member of the board of directors of Avenda Health Care, a medical technology company focused on developing solutions to identify and treat prostate cancer, and since September 2016, he has been a professor of practice at Santa Clara University.
Klein was the Chief Executive Officer at SonaCare Medical, LLC (f/k/a US HIFU, LLC), a global leader in minimally invasive high intensity focused ultrasound technologies, from December 2011 to November 2014.
From April 2011 to December 2011, Klein was the President of the Civco Radiation Oncology Division within Roper Industries, a diversified industrial company that produces engineered products for global niche markets.
He was President and Chief Executive Officer of Xoft, Inc., a medical device company, a position he held from December 2004 until the sale of Xoft to the Company in December 2010.
Prior to joining Xoft, from 2000 to 2004, Klein served as Chairman, President and Chief Executive Officer of R2 Technology, Inc., a breast and lung cancer computer aided detection company.
Previously, Klein served in VP, Sales and Marketing Roles at Varian Medical Systems (VAR) and Becton Dickinson (BDX).
Klein received a Bachelor of Arts degree from the University at Albany, SUNY.
Klein also received his M.B.A. from the New York Institute of Technology and completed his post-graduate Executive Education Studies at Harvard University and Babson College.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Michael Klein’s move on a scale of 0 to 10.
exechange reached out to Icad and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 50.2021 ($).