• After about four years in the position
• Praise and thanks for Reuvers
• Sheri Dodd taking over
• Reuvers kept it short and said 42 words

(exechange) — Minneapolis, Minnesota, April 23, 2024 — Dan Reuvers, chief executive of Tactile Medical, leaves his position. As announced by Tactile Systems Technology Inc. in a news release and in a regulatory filing published on Tuesday, April 23, 2024, Daniel (Dan) Reuvers leaves his post as chief executive officer at the medical technology company, after about four years in the role, effective June 30, 2024.

Dan Reuvers’s duties as CEO will be taken over by Sheri L. Dodd, previously President of Medtronic Canada at Medtronic, plc.

Already a director

Dodd has already been a member of the board of directors of Tactile Medical. 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, Dodd understands the expectations and dynamics of the board and has knowledge of Tactile Medical’s organization, risk-management practices and strategy.

No reason given

In the announcement, Tactile Medical did not explicitly explain the reason for the move.

Precise information regarding Dan Reuvers’s future plans was not immediately available.

“Retire”

Tactile Medical said: “Dan Reuvers will retire as the Company’s Chief Executive Officer, effective June 30, 2024.”

Share price decline since June 2020

The announcement follows a decline in Tactile Systems Technology Inc.’s share price of 70% since June 2020. June 2020 is the month in which Reuvers’s tenure as CEO began.

In the position of CEO since 2020

Dan Reuvers became CEO of the Company in 2020.

His bio reads as follows:

Tactile Systems Technology, Inc.

• Has served as President, Chief Executive Officer and a Director of the Company since June 2020.

Integra LifeSciences Corporation

• Served as the Executive Vice President and President, Codman Specialty Surgical, from December 2016 until June 2020. His responsibilities there included global sales, marketing, product development, quality and regulatory, and service and repair.
• Joined in 2008 as Vice President of Marketing & Product Development for the company’s surgical instrument business, and held a series of roles with progressively increased responsibility. Among his accomplishments there, he led the $1B acquisition and integration of the Codman business from Johnson & Johnson.

Advanced Respiratory and Omni-Tract Surgical

• Served as President, both resulting in acquisitions by Hill-Rom and Integra, respectively.

Reuvers currently serves on the board of Etac Group. He served on the board of Respirtech, Inc. for 10 years, until their acquisition by Philips.

42 words by Dan Reuvers

In the release announcing his departure as CEO of Tactile Systems Technology Inc., Dan Reuvers received praise and thanks.

In announcing his departure as CEO, Dan Reuvers kept it short and said 42 words.

“Create additional shareholder value”

Dan Reuvers stated: “I am proud of the significant progress we have made over the past several years at Tactile Medical. I look forward to working with Sheri and the board of directors to build upon the foundation we’ve established and create additional shareholder value.”

The above text is an excerpt from the exechange report 18.2024 ($), publication date April 29, 2024.