CVRx (Nasdaq:CVRX) has hired a replacement following the resignation of its chief financial officer earlier this year, poaching John Landry from fellow neurostimulation developer Nyxoah.
Landry will start at CVRx October 12, the day after the company is set to file its quarterly earnings report. He will take over for Jared Oasheim, who announced plans to step down in June while staying on as an advisor during the transition and potentially through early next year.
This summer also saw the departure of CVRx’s chief revenue officer, Robert John, who was let go following the disclosure of a federal civil investigation into the company’s marketing practices, and a quarterly earnings report that cut its annual guidance. Paul Verrastro is serving as interim head of sales.
Meanwhile, the company is facing activist investor pressure to put itself up for sale.
“John is exactly the kind of finance leader we need for this next chapter,” CVRx President and CEO Kevin Hykes said in a statement.
“Over the past two decades, he has played a key role in building and financing high growth medical device companies introducing novel therapies like Barostim. He is a hands-on operational leader who has significant commercial and capital markets experience, and who is well known within the investment community,” Hykes added. “John’s experience driving growth while managing expenses is particularly relevant as we scale Barostim and reach more heart failure patients.”
“I want to thank Jared for the significant impact he has had at the company since 2015. He led us through our IPO and helped build the financial foundation we stand on today,” Hykes said. “We’re grateful for his contributions and wish him success in his next chapter.”
Landry most recently served as CFO of the Belgium-based Nyxoah, developer of the Genio neurostimulator for obstructive sleep apnea. There he guided the company through multiple fundraising rounds to support its U.S. commercial plans. Prior to that he was CFO at the respiratory device maker Vapotherm, and helped lead its IPO in late 2018.
“I’ve spent most of my career in the medical device industry helping to build the infrastructure and operating discipline needed as companies scale their commercial efforts,” Landry said. “I’m excited to join the CVRx team and see a real opportunity to bring that same operating discipline to support the business as we execute our commercial growth strategy.”
