Quanterix CEO Kevin Hrusovsky leaves his post

  • Push-out Score determined
  • After around seven years in the position
  • Accolades, praise and thanks for Hrusovsky
  • Masoud Toloue taking over
  • Hrusovsky will remain as Executive Chairman at Quanterix
  • Hrusovsky said 99 words

(exechange) — Billerica, Massachusetts, March 1, 2022 — Kevin Hrusovsky, chief executive of Quanterix, leaves his position. As announced by Quanterix Corp. in a news release and in a regulatory filing published on Tuesday, March 1, 2022, E.Kevin Hrusovsky leaves his post as chief executive officer at the company digitizing biomarker analysis, after around seven years in the role, effective April 25, 2022.

Kevin Hrusovsky’s duties as CEO will be taken over by Masoud Toloue, currently President of Quanterix and Diagnostics.

“To leverage the Company’s strong foundation for growth”

Kevin Hrusovsky’s departure from the CEO post is explained as follows. Quanterix said: “Quanterix Corporation (NASDAQ: QTRX), a company digitizing biomarker analysis with the goal of advancing the science of precision health, today announced its executive leadership succession plan designed to leverage the Company’s strong foundation for growth.”

Hrusovsky will remain as Executive Chairman at Quanterix

“Effective April 25, 2022, Chairman and Chief Executive Officer Kevin Hrusovsky will become Executive Chairman of the Board and President Masoud Toloue will succeed Hrusovsky as CEO and join Quanterix’ Board of Directors. Hrusovsky will focus on key strategic initiatives, Board evolution and important customer, partner and investor relationships, while transitioning CEO responsibilities to Toloue,” Quanterix said.

Share price decline since March 2021

The announcement follows a decline in Quanterix Corp.’s share price of 59% since March 2021.

In the position of CEO since 2015

Kevin Hrusovsky became CEO of the Company in 2015.

Kevin Hrusovsky has been a member of the Company’s board of directors and the Company’s Chairman since June 2014 and the Company’s President and Chief Executive Officer since January 2015.

Prior to joining the Company, Hrusovsky served as Senior Vice President of PerkinElmer, Inc., a publicly traded company that produces analytical instruments, genetic testing and diagnostic tools, medical imaging components, software, instruments and consumables for multiple end markets, from February 2012 to May 2013 and served as President of the Life Sciences and Technology business unit of PerkinElmer, Inc. from November 2011 to May 2013.

From May 2013 through September 2013, he served as a consultant to PerkinElmer.

Previously, Hrusovsky served as Chief Executive Officer and President of Caliper Life Sciences, Inc., a life sciences company that developed and sold lab automation equipment, from July 2003 to November 2011 when it was acquired by PerkinElmer, Inc.

Prior to that, he served as Chief Executive Officer and President of Zymark, a company that provided laboratory automation, robotics, and liquid handling solutions, and Director of International Business, Agricultural Chemical Division, and President of the Pharmaceutical Division for FMC Corporation, a publicly traded chemical manufacturing company.

He also held several management positions at E.I. DuPont de Nemours, a publicly traded chemical manufacturing company.

Hrusovsky serves on the board of directors of 908 Devices Inc., a publicly traded developer of handheld and desktop mass spectrometry devices, and on the boards of several private companies, including BioreclamationIVT, LLC, Cellaria, Cell Signaling Technology, Inc. and Solect Energy Development, LLC, and is the founder of the Powering Precision Health Summit, an executive think tank of researchers, scientists, physicians and innovators focused on the latest research on new biomarkers that have the potential to advance personalized medicine.

Hrusovsky also serves on the Educational Board of the Massachusetts Biotech Council, the Advisory Committee for the Center for Biomedical Engineering at Brown University, the Association for Laboratory Automation, the JALA Editorial Board and the Strategy Committee of Children’s Hospital Boston.

He formerly served on the boards of SynapDx Corp., SeraCare, Caliper Life Sciences, Xenogen and Alliant Medical Technology.

He was selected as the 2013 Entrepreneur of the Year from Ohio State University and holds an Honorary Doctorate degree from Framingham State University for contributions in life sciences and personal medicine.

Hrusovsky has a B.S. in mechanical engineering from Ohio State University and an M.B.A. from Ohio University.

Push-out Score determined

The Push-out Score™ determined by exechange gauges the pressure surrounding Kevin Hrusovsky’s move on a scale of 0 to 10.

exechange reached out to Quanterix and offered the company the opportunity to comment on the score.

Read the full story in the exechange report 10.2022 ($).