LivaNova PLC (NASDAQ:LIVN), a company specializing in electromedical and electrotherapeutic apparatus, announced today the appointment of Susan Podlogar to its Board of Directors. The appointment is effective as of today, and Ms. Podlogar will also serve on the Compensation and Human Capital Management Committee.
Susan Podlogar brings over three decades of experience in human resources within the consulting, scientific, and financial sectors. Before her retirement in June 2024, she was the Executive Vice President and Chief Human Resources Officer at MetLife (NYSE:MET). Her previous roles include various leadership positions at Johnson & Johnson, including Global Head of Human Resources for their Medical Devices segment and Pharmaceutical R&D.
As per the company's Remuneration Policy, Ms. Podlogar will receive a prorated annual board retainer fee of $60,000, an additional $8,000 for her committee responsibilities, and a restricted stock award valued at $180,000 for the fiscal year 2024.
The company has disclosed that there are no arrangements or understandings between Ms. Podlogar and any other persons related to her selection as a director. Furthermore, Ms. Podlogar has not been involved in any transaction with the company since January 1, 2023, that would require disclosure under SEC regulations.
The information provided is based on a press release statement.
In other recent news, medical technology company LivaNova PLC has reported a 10% revenue increase in the second quarter of 2024, marking its sixth consecutive quarter of double-digit growth. This robust performance, primarily driven by the cardiopulmonary and epilepsy segments, led to an upward revision of its full-year revenue and adjusted earnings per share (EPS) guidance for 2024.
Goldman Sachs initiated coverage on LivaNova with a Buy rating, anticipating consistent results and an improved margin profile. Similarly, Baird upgraded LivaNova's stock from Neutral to Outperform, citing strengthened long-term growth prospects.
In other company news, LivaNova announced the upcoming departure of its Chief Human Resources Officer, Trui Hebbelinck, effective September 30, 2024. A search for a replacement is underway with the assistance of an external firm.
In addition, Susan Podlogar has been appointed to the LivaNova Board of Directors, bringing 30 years of experience in leadership roles across consulting, scientific, and financial sectors. These are recent developments as part of LivaNova's strategic plans to invest in its core businesses and maintain above-market growth.
InvestingPro Insights
To provide additional context to LivaNova's recent board appointment, let's examine some key financial metrics and insights from InvestingPro. LivaNova's market capitalization stands at $2.86 billion, reflecting its position in the medical devices industry. The company has shown promising revenue growth, with an 11.52% increase over the last twelve months as of Q2 2024, reaching $1.21 billion.
InvestingPro Tips suggest that LivaNova operates with a moderate level of debt and has liquid assets exceeding short-term obligations, which could provide financial flexibility as the company evolves its leadership structure. Additionally, analysts predict that the company will be profitable this year, which aligns with the strategic move to bring in experienced leadership like Susan Podlogar.
It's worth noting that LivaNova's stock generally trades with low price volatility, which may be appealing to investors looking for stability in the medical technology sector. For those interested in a deeper analysis, InvestingPro offers 7 additional tips that could provide further insights into LivaNova's financial health and market position.
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