Profound Medical names Arun Menawat as CEO

Profound Medical (TSX-V:PRN) appointed Arun Menawat as its new CEO.  Steven Plymale, the company’s current CEO, will transition to President and COO.

Dr. Menawat has been a member of Profound’s board since October 2014. Most recently, he was president and CEO of Novadaq Technologies, which pioneered the field of fluorescence imaging in the operating room.

“I had the privilege of working with Arun at Cedara Software and have continued to benefit from his mentorship in the years since,” Mr. Plymale, said in a statement.

“I was pleased to have personally recruited him to join Profound’s board in 2014 and believe that he is exceptionally well qualified to help us accelerate our growth,” he added. “Arun is a seasoned leader with an exceptional track record and reputation, who has helped nurture and build great medical device businesses.”

Dr. Menawat said Mr. Pylmale “possesses a unique combination of management skills and experience that spans multiple corporate functions, including operations, quality control, regulatory affairs and strategic planning, and I am very excited to be working closely with him once again. Together, I believe that we will be able to help Profound realize its enormous potential, establishing the company as a valuable leader in prostate cancer care.”

Profound also said that Rashed Dewan has been promoted from corporate controller to VP of finance. Mr. Dewan has over 18 years of finance and accounting experience in public and private companies, with particular expertise in the medical device sector.

Damian Lamb, chairman, said Profound is entering a stage of anticipated rapid global growth. “Importantly, with these management changes, we now have a leadership team that is optimally structured to support both our current business and the successful execution of our long-term strategy,” he added.