Neuronetics Inc. (STIM), a Malvern, Pennsylvania-based medical technology company, on Tuesday announced that President and Chief Executive Officer Keith Sullivan will step down effective March 23 and retire on March 31, after more than five years in the role.
The company said Dan Reuvers has been appointed as President and Chief Executive Officer, effective March 23, and will also join the board of directors.
Reuvers most recently served as President and CEO of Tactile Medical and previously held senior leadership roles at Integra LifeSciences and other medical technology companies.
The company said Reuvers' experience in scaling medical technology businesses and driving growth is expected to support its next phase of expansion.
The company also granted Reuvers 1.5 million restricted stock units as an inducement award, vesting over three years under the company's 2020 Inducement Incentive Plan.
In the pre-market trading, Neuronetics is 9.55% higher at $1.4899 on the Nasdaq.
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