- Push-out Score determined
- After about seven years in the position
- Praise and thanks for Palmieri
- Nicole Sandford taking over
- Palmieri will remain as Executive Chair at Aspira
- Palmieri said 101 words
(exechange) — Austin, Texas, February 28, 2022 — Valerie Palmieri, chief executive of Aspira, leaves her position. As announced by Aspira Women’s Health Inc. in a news release published on Thursday, February 24, 2022, and in a regulatory filing published on Monday, February 28, 2022, Valerie B. Palmieri leaves her post as chief executive officer at the bioanalytical-based women’s health company, after about seven years in the role, effective March 1, 2022.
Valerie Palmieri’s duties as CEO will be taken over by Nicole Sandford, most recently EVP and board practice leader at Ellig Group.
Already a director
Sandford is already a director of Aspira. 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, Sandford understands the expectations and dynamics of the board and has knowledge of Aspira’s organization, risk-management practices and strategy.
“Nicole will add firepower to the C-suite”
Aspira did not give an explicit reason for Valerie Palmieri’s departure from the CEO post. Jim LaFrance, Chairman of the Board, said: “As we continue to evolve and grow under her watch, Nicole will add firepower to the C-suite to position the company to take advantage of the opportunities before us.”
Palmieri will remain as Executive Chair at Aspira
“Aspira Women’s Health Inc. (Nasdaq: AWH), a bioanalytical-based women’s health company, today named Valerie Palmieri as Executive Chair of the Board, and Nicole Sandford as President and CEO of the Company. Jim LaFrance, Aspira’s current Board Chair, will step into the role of Lead Independent Director and Audit Committee Chair. All changes will be effective as of March 1, 2022,” Aspira said.
Share price decline since February 2021
The announcement follows a decline in Aspira Women’s Health Inc.’s share price of 89% since February 2021.
In the position of CEO since 2015
Valerie Palmieri became CEO of the Company in 2015.
Valerie B. Palmieri was appointed as the Company’s President and Chief Executive Officer in January 2015 and was elected to the Company’s Board in June 2015.
She first joined Aspira as Chief Operating Officer in October 2014.
From April 2009 to October 2014, Palmieri was the President and Chief Executive Officer of Momentum Consulting, LLC, a national consulting firm serving the life science and diagnostic laboratory industries.
During her time at Momentum, Palmieri also served as CEO/President of two healthcare start-ups that resulted in a successful exit for one and won her recognition as one of the “Top 10 Entrepreneurs of Springboard Enterprises” for the other.
Prior to that she spent six years as the National Vice President of Anatomic Pathology Operations with LabCorp, one of the largest public diagnostic laboratories in the world.
LabCorp was the successor company to Dianon Systems, also a publicly traded company, where she served as Senior Vice President of Operations.
She was a key leader in the sale of Dianon to LabCorp in 2003.
Palmieri holds a Bachelor of Science degree in Medical Technology from Western Connecticut State University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Valerie Palmieri’s move on a scale of 0 to 10.
exechange reached out to Aspira and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 10.2022 ($).