By Mary Vanac
A. Malachi Mixon III, chairman and CEO of Invacare Corp. (NYSE:IVC), suffered a mild stroke and is taking a medical leave to recover, the company said early April 30.
Gerald Blouch, president and COO of the Elyria, Ohio-based home healthcare equipment maker and supplies, will take over as interim CEO until Mixon returns. James Boland, Invacare’s lead director and a member of its board since 1998, will be interim chairman.
“I have suffered a mild stroke, but fortunately, my condition is stable, and my doctors have told me the prognosis for a full recovery is favorable,” Mixon said in a written statement. “I look forward to returning to Invacare soon to full duty. In the interim, I am pleased to have Gerry Blouch and Jim Boland assume responsibility for my day-to-day activities as CEO and chairman of Invacare.”
Mixon’s medical leave triggered a succession plan that has been in place for some time.
“We have every confidence that Invacare’s outstanding tenured management team will continue operations seamlessly,” Boland said in the statement.