|[February 22, 2018]
Invacare Appoints Kathleen Leneghan Chief Financial Officer
Invacare Corporation (NYSE: IVC) today announced the appointment of
Kathleen P. Leneghan as Senior Vice President and Chief Financial
Officer, effective immediately. Ms. Leneghan has been in the role of
interim Chief Financial Officer of the company since November 26, 2017.
"When she stepped into the interim role in November, Kathy made our CFO
transition seamless. She has a wealth of knowledge about our global
operations, and she is an insightful financial leader and business
partner. Invacare has a good mix of new and tenured talent, and I am
delighted to have those perspectives reflected in our executive team. We
will all benefit from Kathy's experience and leadership as we continue
to make progress on our business transformation," said Matthew E.
Monaghan, chairman, president and chief executive officer.
"I am pleased to become CFO. Invacare is a great company with a
compelling mission," said Ms. Leneghan. "I look forward to partnering
with Matt and progressing our transformation. We have a significant
opportunity to demonstrate sustained clinical value and generate
profitable growth, and, in turn, create long-term shareholder value. Our
financial health and performance are critical to our success."
Prior to her promotion, Ms. Leneghan was vice president and corporate
controller since 2003. She has been with Invacare for 27 years, serving
in various financial roles in both North America and Europe. Prior to
joining Invacare, Ms. Leneghan was an audit manager with Ernst & Young
Board Member Update
Searately, Invacare also announced that Michael J. Merriman, who has
been a director since 2014, will not stand for re-election as a director
of the company in 2018. His term as a director will expire at the annual
shareholder meeting in May. Mr. Merriman's decision to not stand for
re-election to the Board is due to his other personal and professional
obligations and not due to any disagreement with the company.
"Mike has been an invaluable member of our Board of Directors. We have
sincerely appreciated his guidance and financial stewardship,
particularly as we worked through the beginnings of our transformation.
We thank him for his commitment to Invacare and wish him well," said Mr.
"Invacare has made a tremendous amount of progress during my four years
on the Board of Directors. The team has a clear plan, and they have
demonstrated steady improvement. During my time as chair of the audit
committee, I worked closely with Kathy in her role as corporate
controller, and I have full confidence she will be an outstanding CFO. I
wish her, Matt, and the company the best of luck," said Mr. Merriman.
About Invacare Corporation
Invacare Corporation (NYSE: IVC) is a leading manufacturer and
distributor in its markets for medical equipment used in non-acute care
settings. At its core, the company designs, manufactures and distributes
medical devices that help people to move, breathe, rest and perform
essential hygiene. The company provides clinically complex medical
device solutions for congenital (e.g., cerebral palsy, muscular
dystrophy, spina bifida), acquired (e.g., stroke, spinal cord injury,
traumatic brain injury, post-acute recovery, pressure ulcers) and
degenerative (e.g., ALS, multiple sclerosis, chronic obstructive
pulmonary disease (COPD), elderly, bariatric) ailments. The company's
products are important parts of care for people with a wide range of
challenges, from those who are active and involved in work or school
each day and may need additional mobility or respiratory support, to
those who are cared for in residential care settings, at home and in
rehabilitation centers. The company sells its products principally to
home medical equipment providers with retail and e-commerce channels,
residential care operators, distributors and government health services
in North America, Europe and Asia/Pacific. For more information about
the company and its products, visit Invacare's website at www.invacare.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180222006636/en/
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