- After less than two and a half years in the position
- Ronald Nixon taking over temporarily
- Search for a successor
(exechange) — Fort Worth, Texas, May 13, 2024 — Zach Fleming, chief executive of Sanara, leaves his position. As announced by Sanara MedTech Inc. in a news release and in a regulatory filing published on Monday, May 13, 2024, Zachary B. (Zach) Fleming has left his post as chief executive officer at the medical technology company, after less than two and a half years in the role, effective May 10, 2024.
Generally speaking, it raises questions when a CEO leaves his post abruptly and after a short tenure.
Sanara will undertake a search for a successor.
Zach Fleming’s duties as CEO will be taken over temporarily by Ronald T. Nixon, previously Executive Chairman at Sanara MedTech Inc.
No reason given
In the announcement, Sanara did not explicitly explain the reason for the move.
Precise information regarding Zach Fleming’s future plans was not immediately available.
“Resignation”
Sanara said: “Subsequent to the end of the quarter, former CEO Zach Fleming delivered notice of his resignation, effective May 10, 2024.”
Sanara further said: “On May 10, 2024 …, Zachary B. Fleming delivered notice to the Board of Directors of the Company … that he is resigning from his position as Chief Executive Officer of the Company, effective immediately.”
“Not in connection with any disagreement”
Sanara stated, regarding the change: “Mr. Fleming’s resignation was not in connection with any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.”
Share price decline since May 2023
The announcement follows a decline in Sanara MedTech Inc.’s share price of 21% since May 2023.
In the position of CEO since 2022
Zach Fleming became CEO of the Company in 2022.
Zachary B. Fleming has served as the Company’s Chief Executive Officer since January 1, 2022.
Fleming joined the Company as Vice President of Sales in November 2017 and was promoted to Vice President, Surgical in September 2018.
Fleming then served as the Company’s President, Surgical Division beginning on May 28, 2019 and as the Company’s Co-Chief Operating Officer beginning on January 28, 2020.
Prior to joining the Company, Fleming spent over fourteen years in the medical industry with Healthpoint Biotherapeutics and Smith & Nephew.
Fleming earned a Bachelor of Science from Indiana University.
No statement by Zach Fleming
The announcement of his departure as CEO does not include a statement by Zach Fleming.
The above text is an excerpt from the exechange report 21.2024 ($), publication date May 20, 2024.