- After less than two years in the position
- Burke Barrett taking over
- Danahy will remain as Chief Commercial Officer at Pulse
- Danahy said 67 words
(exechange) — Hayward, California, May 14, 2024 — Kevin Danahy, chief executive of Pulse, leaves his position. As announced by Pulse Biosciences Inc. in a news release and in a regulatory filing published on Tuesday, May 14, 2024, Kevin P. Danahy has left his post as chief executive officer at the bioelectric medicine company, after less than two years in the role, effective May 12, 2024.
Generally speaking, it raises questions when a CEO leaves his post abruptly and after a short tenure.
Kevin Danahy’s duties as CEO will be taken over by Burke T. Barrett, previously Chief Executive Officer and President at CaridoFocus, Inc.
The fact that Kevin Danahy’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
“To support its next pivotal phase of growth”
Pulse did not give an explicit reason for Kevin Danahy’s departure from the CEO post. Pulse stated: “Pulse Biosciences, Inc. (Nasdaq: PLSE), a company leveraging its novel and proprietary CellFX® Nanosecond Pulsed Field Ablation™ (nsPFA™) technology (“Pulse”), today announced enhancements to its executive leadership team to support its next pivotal phase of growth.”
Danahy will remain as CCO at Pulse
Pulse stated: “Proven atrial fibrillation medical technology leader Burke T. Barrett has been appointed President and Chief Executive Officer effective immediately. Concurrently, the Company announced the appointment of Kevin Danahy, former President and Chief Executive Officer, as Chief Commercial Officer. Mr. Danahy will now focus his full time leading the pilot launch of the recently FDA cleared CellFX nsPFA Percutaneous Electrode System.”
Pulse said: “Mr. Barrett succeeds Kevin P. Danahy, who was appointed as the Company’s Chief Commercial Officer, as of the Start Date [May 12, 2024], to lead the commercialization pilot program of the Company’s CellFX nsPFA Percutaneous Electrode System.”
Share price increase since September 2022
The announcement follows an increase in Pulse Biosciences Inc.’s share price of 446% since September 2022. September 2022 is the month in which Danahy’s tenure as CEO began.
In the position of CEO since 2022
Kevin Danahy became CEO of the Company in 2022.
Kevin P. Danahy has served as the Company’s Chief Executive Officer since September 2022, and previously he served as the Company’s Chief Commercial Officer.
Danahy has more than 20 years of senior management experience building and managing strategic commercial organizations for medical technology companies.
Prior to joining Pulse Biosciences, Danahy most recently served as President of Solmetex, a medical device company focused on manufacturing environmental waste management products for the dental industry, from January 2019 to February 2022.
From August 2017 to January 2019, Danahy held roles at Zimmer Biomet (NYSE: ZBH), a global medical device company with a comprehensive portfolio of robotic technologies, including Vice President of Global Emerging Technologies and Specialty Sales, in which he was responsible for leading the global launch and commercialization of Zimmer’s new bionic surgical arm technology.
Before his time at Zimmer, Danahy served as Sr. Director at Intuitive Surgical, where he successfully transformed the sales leadership training program.
Early in his career, he served in commercial leadership roles at both Medtronic and Johnson & Johnson.
Danahy holds an M.S. degree from Tufts University.
67 words by Kevin Danahy
In the release announcing his departure as CEO, Kevin Danahy said 67 words.
“Learning from his vast experience”
Kevin Danahy stated: “It is an honor to be a key team member in leading Pulse Biosciences into this iconic and historic opportunity. I look forward to working closely with Burke in both learning from his vast experience as well as sharing my knowledge and experience with him as Team Pulse Biosciences launches our novel CellFX nsPFA Percutaneous Electrode System and achieves meaningful progress toward commercial opportunities in cardiac ablation.”
The above text is an excerpt from the exechange report 21.2024 ($), publication date May 20, 2024.