LONDON: Tristel plc (AIM: TSTL), the manufacturer of infection prevention products, announced the appointment of Matthew (Matt) Sassone as Chief Executive Officer (“CEO”) and to the Tristel Board, with effect from 2 September 2024.

Matt’s appointment follows the conclusion of a competitive selection programme and he will replace Paul Swinney, the Company’s founder and CEO of 30 years, who announced his plans to retire during 2023. Paul will remain with the Company for a suitable period to allow for a successful transition of leadership.

Matt joins Tristel from Masimo Corporation (NASDAQ: MASI), a global medical technology company, where he is Senior Vice-President Marketing. During his tenure at Masimo, Matt lived and worked in the USA, gaining invaluable experience in the American healthcare market. He has over 27 years’ experience in the medical industry in various sales, marketing, business development and senior management roles. He joined the Board of AIM-listed cardiovascular monitoring company, LiDCO Group Plc (“LiDCO”), in June 2015, becoming CEO in August 2015. LiDCO was bought for £31m by Masimo in February 2021.

Matt started his career in sales for Quintiles in 1996. He spent 12 years at Smiths Medical in various sales, marketing and business development roles achieving the role of Managing Director, Northern and Eastern Europe and Russia in 2010 where he had full P&L responsibility for 300 employees and £150m of revenue. In 2012 he moved to ArjoHuntleigh, a division of the Getinge Group, as Senior Vice President Global Marketing and was Chief Marketing Officer of Maquet (turnover £1.1 billion in intensive care, surgery and anaesthesia systems), also a division of Getinge. Matt has a degree in biochemistry with microbiology, a diploma in management studies and a CIM diploma.

Matt Sassone, incoming CEO of Tristel, commented: “I am deeply honoured to join Tristel as its new Chief Executive Officer. Tristel has a well-earned reputation for innovation and excellence in infection prevention, and I look forward to leading this exceptional business. My focus will be on building on Paul Swinney’s strong foundation, capturing global opportunities, and expanding our presence in key markets like North America. Together, we will continue to drive growth and deliver exceptional value to our customers and stakeholders.”

Paul Swinney, Founder and out-going CEO of Tristel, commented: “I am excited to hand the reins of this marvellous company to Matt. We have become the global market leader in manual high-level disinfection of medical devices and now have a foothold in the world’s largest healthcare market. Matt’s first-hand experience of North America will propel us to great success there.

“In our time on AIM we have succeeded in increasing our share price by almost 12 times and have returned over 75 pence per share in dividends to our shareholders. I think we have created a great UK success story.

“I have had the great pleasure to work with an exceptionally talented and committed team at Tristel, who I am sure will provide their new CEO the same level of support and assistance that I have received. In the coming months I will leave Tristel in excellent shape, very well led, and as an enthusiastic shareholder of the Company.

Ardena announces CEO transition: Jeremie Trochu takes the helm