LivaNova, the combined company from Sorin Group (BIT:SRN) and Cyberonics (NSDQ:CYBX) merger, announced the last 2 of its remaining board members.
The board will contain 9 members, with 4 coming from Sorin, 4 from Cyberonics and 1 elected jointly, the merged companies said.
Previously named Sorin designee Massimo Tononi will be replaced by Stefano Gianotti , the company said. In addition, Sharon O’Kane will serve as the jointly chosen director of the LivaNova board.
“Stefano Gianotti and Sharon O’Kane each possess an incredible depth of knowledge, operational expertise and proven leadership that will greatly enhance the board’s efforts in guiding our company forward once we close our merger with Sorin,” current Cyberonics CEO and LivaNova board chair Dan Moore said in a press release.
“These highly qualified independent directors will contribute significantly to the vision, growth and success of the combined company,” previous Sorin and future LivaNova CEO André-Michel Ballester said in prepared remarks.
Last month, The High Court of England and Wales approved the $2.7 billion merger of the the 2 companies into the newly named LivaNova.
The U.K.-approved merger will go into effect October 19, according to the companies.
In May, Sorin and Cyberonics shareholders approved a merger of the companies and the companies announced the management roster for the new entity, which is united the global leaders in neuromodulation and cardiac surgery with a combined equity value of $2.7 billion.
The merger won approval from U.S. anti-trust regulators in April. Sorin’s sales account for more than 60% of the combined entity’s total sales. Cyberonics had around $290 million in 2014 revenues, 1 production facilities and 650 employees, compared to Sorin’s sales of nearly $1 billion, 10 manufacturing sites and 3,900 workers.