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Posted 14 February, 2023

Electromed, Inc. appointed new CEO

CEO Change detected for ticker NYSE:ELMD in a 8-K filed on 14 February, 2023.


  On February 14, 2023, Kathleen S. Skarvan, the President and Chief Executive Officer of the Company, notified the Company of her intention to retire from the Company effective on or about July 1, 2023 (the "Retirement Date").  

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Overview of Electromed, Inc.
Health Care/Life Sciences • Medical Equipment/Supplies
Electromed, Inc. engages in the development, manufacture, marketing, and sale of medical equipment. The firm's products include SmartVest SQL System and SmartVest Connect. It focuses on building market awareness, and acceptance of its products and services with physicians, clinicians, patients, and third-party payers. The company was founded by Robert D. Hansen and Craig N. Hansen in 1992 and is headquartered in New Prague, MN.
Market Cap
$135M
View Company Details
Electromed, Inc. by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


On February 14, 2023, Kathleen S. Skarvan, the President and Chief Executive Officer of the Company, notified the Company of her intention to retire from the Company effective on or about July 1, 2023 (the "Retirement Date"). The Board of Directors of the Company (the "Board") has commenced a search process to identify the Company's next Chief Executive Officer. The search will include both internal and external candidates.


Following the Retirement Date, Ms. Skarvan is expected to serve as a non-employee member and Chair of the Board, subject to certain terms and conditions set forth in a letter agreement with the Company (the "Letter Agreement"). The Letter Agreement further provides that so long as Ms. Skarvan does not terminate her employment with the Company before the Retirement Date and does not voluntarily resign from the Board, she will remain eligible to receive her base salary through July 1, 2023 and her annual bonus for the full fiscal year ending June 30, 2023. 


The foregoing description of the material terms of the Letter Agreement is qualified by the full text thereof, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference into this Item 5.02.