A leading medical technology company, Avanos Medical, Inc. (NYSE: AVNS), has announced its intention to nominate James L. Cunniff, President and CEO of Electromed, Inc., and William P. Burke, former Executive Vice President and CFO of Haemonetics Corporation, to stand for election as independent directors to the Avanos board of directors at the company’s 2026 annual meeting of stockholders. This announcement follows the company's entry into a cooperation agreement with Bradley L. Radoff and one of his affiliates.
James Cunniff, who has been serving as President, CEO, and a board member of Electromed, Inc. since July 2023, brings with him deep operating experience and a strong track record of driving growth within medical technology organizations. On the other hand, William Burke, who has been a member of the board of directors of Axogen, Inc. since July 2022, has extensive finance and accounting experience with global medical technology companies, including serving as the Executive Vice President, CFO of Haemonetics Corporation.
The company is confident that the addition of these two strong leaders to the board will enhance its executive leadership and financial expertise and promote the introduction of novel perspectives aligned with Avanos’ long-term strategy. The board will present its formal recommendation regarding the director nominees in the company’s definitive proxy statement and other materials, to be filed with the United States Securities and Exchange Commission (SEC) and mailed to all shareholders eligible to vote at the 2026 annual meeting, the date of which is yet to be scheduled.
This move is seen as a strategic step by Avanos to position the company for long-term success and to bring valuable expertise to the board, as highlighted by Mr. Radoff's constructive engagement with the board and the company's confidence in the potential of the new directors. Avanos remains committed to addressing important healthcare needs, including providing vital nutrition lifelines to patients from hospital to home and reducing the use of opioids while assisting patients in their journey from surgery to recovery. The company develops, manufactures, and markets its recognized brands globally and holds leading market positions in multiple product categories. Following these announcements, the company's shares moved 0.0%, and are now trading at a price of $12.34. For the full picture, make sure to review AVANOS MEDICAL, INC.'s 8-K report.
