SYDNEY, AUSTRALIA: US-based medical device company, Visioneering Technologies Inc (ASX: VTI) announced the Chief Executive Officer and Executive Director Stephen Snowdy has tendered his resignation and will leave the company on 9 January 2022.
Dr. Snowdy is leaving Visioneering Technologies to pursue an opportunity in oncology, a personal passion for Dr. Snowdy and his family.
VTI Chairman, Dr. David J. Mazzo, said: “Stephen has helmed VTI as CEO for the past eight years and served as a Director for 13 years. During that time, VTI grew from a research and development company to a commercial company, which has included international regulatory clearances and product launches in nine countries.
Stephen also oversaw the IPO of VTI onto the Australian Securities Exchange. His tenure will culminate with the Company achieving approximately A$10 million in revenue for 2021, representing 38% growth over the prior year, and global recognition as a leader in the rapidly expanding area of paediatric myopia management. We thank Dr. Stephen Snowdy for his service and wish him well in his new endeavor.”
Outgoing VTI CEO and Executive Director, Dr. Stephen Snowdy, commented: “VTI and its products are positioned as an early leader in one of the most exciting and fastest growing areas of eyecare, that of myopia management, and I expect great things from Visioneering Technologies in the future.
I have thoroughly enjoyed my time at VTI and an opportunity to work with an exceptionally talented team. I am leaving VTI to work in the oncology space. As a cancer survivor, a husband of a cancer survivor, and father of children who run a cancer not-for-profit organisation, this is an area of great personal interest and passion, for which I look forward to contributing my time and expertise.”
Following Stephen’s departure, the Company will default all lines of operational and executive reporting to Chairman of the Board, Dr. David J. Mazzo. A focused recruitment campaign will be launched imminently to source a replacement for the VTI Chief Executive Officer role.
VTI Chairman, Dr. David J. Mazzo, said: “Our valued customers, clinical partners and investors can be assured that we are well-equipped to support both business-as-usual and strategic imperatives for the Company during this transitional period for the CEO role. The VTI team is cohesive, passionate and highly functional in the delivery of its essential business operations, so it will be a great pleasure for me to work closely with them during this time. We will keep the market updated with respect to our CEO recruitment plans in Q1 2022.”
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