Thrombolex has announced that its board of directors has named Michael Cerminaro chief executive officer (CEO) effective 13 July 2022, the date of the company’s most recent quarterly board meeting.
The company advises Cerminaro will also retain his current title of president. Marvin Woodall, currently chairman and CEO, will serve as executive chairman and transition the CEO role to Cerminaro, currently president and chief operating officer. Both Woodall and Cerminaro are cofounders of Thrombolex and have been members of the board of directors since inception of the company in 2016.
During his tenure, Woodall led the company in transforming its business, with a focus on development of novel therapies to treat arterial and venous thromboembolic (VTE) disease, from an early-stage startup to a commercial stage innovator with seven US Food and Drug Administration (FDA)-cleared devices. A primary focus of R&D and clinical investment under Woodall’s leadership has been the development of a platform technology that has demonstrated best-in-class clinical data and exceptional early safety, a press release details.
“My decision to transition the CEO role to Michael has come at the right time for the company as our organisation is delivering strong progress and is positioned for continued success,” said Mr. Woodall. “It has been an honour and privilege to lead Thrombolex as chairman and CEO, and I am pleased to serve as executive chairman to help oversee the company’s ongoing mission to bring innovative therapies to people all over the world. I am also immensely proud of how we have upheld the company’s legacy of delivering clinical therapies to address one of the most urgent, unmet clinical needs, treatment of arterial and VTE disease. I have the utmost confidence in Michael to lead Thrombolex as the company’s next CEO and I am confident that the future of Thrombolex is in very capable hands.”
On behalf of the board, Paul Stewart, one of the independent members of the board of directors, expressed his gratitude to Woodall: “Marv’s leadership and accomplishments since inception have been extraordinary and Thrombolex is much stronger, more diverse and much better positioned to succeed in today’s evolving healthcare marketplace due to his exceptional stewardship. Given Michael’s deep commitment to the company’s mission and his ability to effectively lead, collaborate and create value, the board of directors are highly confident in his ability to drive continued rapid commercialisation of the Bashir family of pharmacomechanical endovascular catheters.”
“I am honoured to serve as Thrombolex’s next CEO,” said Cerminaro. “Our company has been a medical device innovator with a robust pipeline of transformational and novel therapies. I have had the pleasure of working closely with Marv since we cofounded Thrombolex and thank him for his outstanding leadership and accomplishments. I am pleased that I will continue to benefit from his continued guidance and insights moving forward. Above all I am excited to be leading an incredibly talented and experienced team of industry professionals that continue to be guided by our mission to save lives and improve outcomes for every patient treated with our innovative technology. I also look forward to working closely with Marv and the broader executive management team, in my role as CEO, to write Thrombolex’s next chapter.”