AngioDynamics hopes for change in fortunes with new CEO
This article was originally published in Clinica
Executive Summary
Vascular disease specialist AngioDynamics has appointed Joseph DeVivo president and CEO, two months after previous CEO Jan Keltjens resigned. Mr Keltjens quit in June after two years at the helm, after the company missed its fourth-quarter sales targets and admitted it had "underperformed" (www.clinica.co.uk, 14 June 2011). AngioDynamics says that Mr DeVivo, who will join the firm on 7 September, was its "top choice" since beginning its search for a new leader. He was most recently global president of Smith & Nephew's orthopaedics division, which he led to record growth – the unit recently put in a good second-quarter performance, with sales up 4%, driven by 7% growth in S&N's knee franchise (www.clinica.co.uk, 5 August 2011). Mr DeVivo stepped down this month because of S&N's recent restructuring, when it merged its orthopaedics and endoscopy divisions. Before joining S&N in 2007, Mr DeVivo was president and CEO of tumour ablation products developer Rita Medical Systems, which was acquired by AngioDynamics for $220m in 2006 (www.clinica.co.uk, 1 December 2006). Scott Solano, who was filling in as AngioDynamics' interim CEO, will return to his previous post as senior vice-president and chief technology officer.