- After around nine years in the position
- Praise and thanks for French
- Steve Williamson taking over
- French said 71 words
(exechange) — Redwood City, California, February 21, 2024 — Glen French, chief executive of Pulmonx, leaves his position. As announced by Pulmonx Corp. in a news release and in a regulatory filing published on Wednesday, February 21, 2024, Glendon E. (Glen) French leaves his post as chief executive officer at the specialist in minimally invasive treatments for lung disease, after around nine years in the role, effective March 15, 2024.
Generally speaking, it raises questions when a CEO leaves his post at short notice.
Glen French’s duties as CEO will be taken over by Steven S. (Steve) Williamson, most recently Chief Commercial Officer at Outset Medical, Inc.
The fact that Glen French’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
No reason given
In the announcement, Pulmonx did not explicitly explain the reason for the move.
Precise information regarding Glen French’s future plans was not immediately available.
“Retire/resigned”
Pulmonx said: “Glen French will retire as the Company’s President and Chief Executive Officer, effective March 15, 2024, following over nine years of service to Pulmonx.”
Pulmonx further said: “On February 20, 2024, Glendon E. French resigned as President and Chief Executive Officer of Pulmonx Corporation (the “Company”), effective as of March 15, 2024 (the “Effective Date”).”
Share price decline since February 2021
The announcement follows a decline in Pulmonx Corp.’s share price of 74% since February 2021.
In the position of CEO since 2014
Glen French became CEO of the Company in 2014.
French will serve as a Senior Advisor to Williamson until May 1, 2024 to ensure a seamless transition and then remain a member of the Company’s Board of Directors.
Glendon E. French has served as the Company’s President, Chief Executive Officer and as a member of the Company’s Board since December 2014.
From January 2014 to November 2014, French served as Chief Executive Officer and as a director of ApniCure, a medical device company.
From October 2010 to December 2012, French served as President, Pulmonary Endoscopy for Boston Scientific Corporation, a medical device company.
From December 2003 to October 2010, French served as President and Chief Executive Officer and as a director of Asthmatx, Inc., a medical device company.
French served as the Executive Chairman of the board of directors of Levita Magnetics International Corp., a medical device company, from August 2013 to January 2022.
French holds a B.A. in History from Dartmouth College and an M.B.A. from the Wharton School at the University of Pennsylvania.
71 words by Glen French
In the release announcing his departure as CEO of Pulmonx Corp., Glen French received praise and thanks.
In announcing his departure, Glen French said 71 words.
“Doing all I can to ensure his success”
Glen French stated: “It has been a privilege to serve as President and CEO of Pulmonx. I am grateful to have had the opportunity to work alongside such a dedicated and capable team, and I look forward to continuing my work as a member of the Board of Directors. Steve has the proven leadership qualities and skills to successfully lead Pulmonx and I am committed to doing all I can to ensure his success.”
The above text is an excerpt from the exechange report 9.2024 ($), publication date February 26, 2024.