- After less than three years in the position
- Praise, thanks and good wishes for Shabshab
- Kevin Smith taking over
(exechange) — Goleta, California, November 13, 2023 — Nabil Shabshab, chief executive of Inogen, leaves his position. As announced by Inogen Inc. in a news release and in a regulatory filing published on Monday, November 13, 2023, Nabil Shabshab has left his post as chief executive officer at the medical technology company, after less than three years in the role, effective November 10, 2023.
Generally speaking, it raises questions when a CEO leaves his post abruptly and after a short tenure.
Nabil Shabshab’s duties as CEO will be taken over by Kevin Smith, most recently Chief Executive Officer at Sirtex Medical US Holdings, Inc.
The fact that Nabil Shabshab’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.
Inogen did not give an explicit reason for Nabil Shabshab’s departure from the CEO post. Elizabeth Mora, Chairperson of the Board, stated: “Inogen is a global leader in portable oxygen therapy solutions, with a large and growing market, and leading patient-centric product portfolio. We believe we have tremendous opportunities to scale our business, drive operational efficiencies and accelerate our growth trajectory, and the Board believes it is the right time for new leadership to improve performance and support Inogen’s next phase of its journey.”
Precise information regarding Nabil Shabshab’s future plans was not immediately available.
“Role … ended”
Inogen said: “Inogen … today announced that its Board of Directors has appointed Kevin Smith as Inogen’s President and Chief Executive Officer and a member of the Board of Directors, effective immediately, succeeding Nabil Shabshab.”
Inogen further said: “Mr. Shabshab’s role as an officer and employee of the Company ended effective November 10, 2023.”
Share price decline since February 2021
The announcement follows a decline in Inogen Inc.’s share price of 90% since February 2021. February 2021 is the month in which Shabshab’s tenure as CEO began.
In the position of CEO since 2021
Nabil Shabshab became CEO of the Company in 2021.
Nabil Shabshab has served as the Company’s Chief Executive Officer, President and a member of the Company’s Board since February 2021.
Prior to joining Inogen, Shabshab served as Worldwide President of Diabetes Care and Digital Health at Becton Dickinson and Company, a leading medical technology company, from August 2017 to February 2021.
Prior to that, since August 2011, Shabshab served as Becton Dickinson’s Chief Marketing Officer and Executive Vice President of Strategic Planning.
Prior to Becton Dickinson, Shabshab served as EVP, Global Portfolio, Chief Marketing Officer and Head of RD&E of Diversey, Inc., a cleaning and sanitation solutions company from 2006 to 2010.
In his previous roles Shabshab served as Principal with The Zyman Group, as Vice President, Client Solutions and Consulting with Symphony IRI, and in various sales and marketing roles in pharmaceutical and consumer goods companies including Warner Lambert / Pfizer, the Coca-Cola Company, and Fronterra.
Shabshab holds an MBA from Northwestern University Kellogg School of Management and a B.S. in Computer Sciences from American Lebanese University.
No statement by Nabil Shabshab
In the release announcing his departure as CEO of Inogen Inc., Nabil Shabshab received praise, thanks and good wishes.
The announcement of his departure as CEO does not include a statement by Nabil Shabshab.
Push-out Score for Nabil Shabshab’s move determined
The Push-out Score indicates on a scale of 0 to 10 how likely it is that Nabil Shabshab was pushed out or felt pressure to leave his position.
exechange reached out to Inogen and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 47.2023 ($).