- Push-out Score determined
- After almost 12 years in the position
- Praise, thanks and good wishes for Tusa
- Pat Mulloy taking over
(exechange) — Houston, Texas, April 6, 2022 — David Tusa, chief executive of Sharps, leaves. As announced by Sharps Compliance Corp. in a news release published on Monday, April 4, 2022, and in a regulatory filing published on Wednesday, April 6, 2022, David P. Tusa has left his post as chief executive officer at the provider of solutions for the management of regulated medical waste, hazardous waste and unused medications, after almost 12 years in the role, effective April 1, 2022.
David Tusa’s duties as CEO will be taken over by W.Patrick (Pat) Mulloy, most recently Chief Executive Officer at Elmcroft Senior Living.
Already a director
Mulloy is already a director of Sharps. 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, Mulloy understands the expectations and dynamics of the board and has knowledge of Sharps’s organization, risk-management practices and strategy.
“To pursue other endeavors”
David Tusa’s departure from the CEO post is explained as follows. Sharps said: “Mr. Mulloy succeeds David P. Tusa, who resigned from the role effective April 1, 2022, to pursue other endeavors.”
Precise information regarding David Tusa’s future plans was not immediately available.
Share price decline since April 2021
The announcement follows a decline in Sharps Compliance Corp.’s share price of 58% since April 2021.
In the position of CEO since 2010
David Tusa became CEO of the Company in 2010.
David P. Tusa was appointed President of the Company in June 2010, Chief Executive Officer on September 30, 2010 and a member of the Board of Directors in November 2010.
He joined the Company in February 2003 as the Executive Vice President, Chief Financial Officer and Business Development and served in such positions until he was named President of the Company in June 2010.
Tusa was the Executive Vice President and Chief Financial Officer of Billing Concepts Corp. from August 1999 until June 2004.
Prior to Billing Concepts, Tusa was Executive Vice President and Chief Financial Officer of U.S. Legal Support, a provider of litigation support services, during the period from September 1997 to August 1999.
Tusa also served as Senior Vice President and Chief Financial Officer of Serv-Tech, Inc., a publicly-held provider of specialty services to industrial customers in multiple industries, from April 1994 through August 1997.
Additionally, Tusa held various positions with CRSS, Inc., a publicly-held diversified services company from May 1990 through April 1994.
Tusa served as an advisor to the Board of Directors of the Company from October 2001 to February 2003.
He is a Certified Public Accountant and holds a BBA from the University of Houston.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding David Tusa’s move on a scale of 0 to 10.
exechange reached out to Sharps and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 15.2022 ($).