- Push-out Score determined
- After around nine years in the position
- Praise, thanks and good wishes for Kilroy
- Mark Doerr taking over
- Kilroy said 67 words
(exechange) — Mississauga, Ontario, Canada & Phoenix, Arizona, January 11, 2022 — Ed Kilroy, chief executive of MedAvail, leaves. As announced by MedAvail Holdings Inc. in a news release and in a regulatory filing published on Tuesday, January 11, 2022, Ed Kilroy has left his post as chief executive officer at the technology-enabled pharmacy company, after around nine years in the role, effective January 10, 2022.
Ed Kilroy’s duties as CEO will be taken over by Mark Doerr, most recently Senior Vice President and General Manager of the Pharmacy Business Unit at Change Healthcare.
The fact that Ed Kilroy’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
In general, an outsider does not have the constraints of an insider when it comes to leading painful changes or making unpopular decisions.
“Accelerate the expansion of our pharmacy solutions”
MedAvail did not give an explicit reason for Ed Kilroy’s departure from the CEO post. Doerr said: “We have an exciting pathway to accelerate the expansion of our pharmacy solutions.”
Precise information regarding Ed Kilroy’s future plans was not immediately available.
“Retired”
MedAvail said: “Mr. Doerr succeeds Ed Kilroy, who is retired as CEO and from the board of directors and moving into an advisory role through March 31, 2022.”
Share price decline since January 2021
The announcement follows a decline in MedAvail Holdings Inc.’s share price of 92% since January 2021.
In the position of CEO since 2012
Ed Kilroy became CEO of the Company in 2012.
Kilroy has served as the Company’s President and Chief Executive Officer and a member of the Company’s board of directors since November 2020 and has served as Private MedAvail’s President and Chief Executive Officer and a member of Private MedAvail’s board of directors since November 2012.
Kilroy previously served as Chief Executive Officer of Symcor, one of Canada’s largest providers of business and payments processing services from January 2005 to November 2010.
Prior to that, Kilroy served as President of IBM Canada Ltd. from April 2000 to January 2005.
Kilroy received a B.A. in Administrative Sciences from Yale University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Ed Kilroy’s move on a scale of 0 to 10.
exechange reached out to MedAvail and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 3.2022 ($).