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Executive departures at InMode
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InMode stock dips after executive departures
InMode (NASDAQ:INMD) shares fell roughly 8% on Tuesday after the medical devices company announced the departure of executives as part of a “global reorganization strategy.”
Shakil Lakhani, president of North America, left the firm effective September 30, 2024. His departure follows that of Spero Theodorou, chief medical officer, and Dan Wilson, VP of Sales USA.
In addition to the departure of the three executives from InMode’s North American operations, over the last few months, InMode has changed the management teams in three of its subsidiaries in Europe: InMode UK, InMode Iberia and InMode France.
These changes come as part of the company’s ongoing effort to establish an optimal structure that aligns with its global expansion and penetration into new business verticals.
Moshe Mizrahy, InMode’s CEO, said, “This new structure is designed to enhance operational efficiency of our North American operations. This reorganization marks an important step in InMode’s evolution as a global company and demonstrates our commitment to building a robust infrastructure for future growth.”
Shares of InMode (INMD) have fallen over 30% year-to-date.
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