Nevro promotes prez Elghandour to replace CEO DeMane | Personnel Moves

Nevro Corp. (NYSE:NVRO) this week promoted president Rami Elghandour to be its new CEO, as chief executive Michael DeMane moves to the executive chairman spot.

DeMane, the former COO at Medtronic, will keep an active role in Nevro, which he joined in 2011 after a quickly aborted stint at the head of Lanx. He’s due to leave the corner office June 1, Nevro said.

“As a result of Michael’s outstanding leadership, Nevro has become 1 of the most successful medtech companies of the past decade. Speaking on behalf of the entire board, we wish to thank Michael for his insightful vision and guidance over the past 5 years and we look forward to his continued leadership at the board level. We are confident that the strong and capable management team Michael has assembled will continue to execute Nevro’s growth strategy in an exemplary way,” former chairman Frank Fischer said in prepared remarks.

“Rami is an exceptional executive, and he has had a critically important role in building Nevro into what it is today,” DeMane added. “This is a deliberate and thoughtful succession process, in which I have worked closely with the Nevro board of directors to ensure a seamless transition. The board and I are absolutely confident in Rami’s ability to lead this remarkable organization into the future.”

Today Nevro said it named the former head of Johnson & Johnson‘s (NYSE:JNJ) venture capital arm, Brad Vale, to the board

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