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Gerald B. Blouch Retires from Invacare Corp. [Professional Services Close - Up](Professional Services Close - Up Via Acquire Media NewsEdge) Invacare Corp. reported that Gerald B. Blouch, President and Chief Executive Officer, will retire effective July 31. According to a release from the Company, Blouch also will retire from his position as a member of the Board of Directors at that time. Robert K. Gudbranson, Invacare's Senior Vice President and Chief Financial Officer, has been named interim President and Chief Executive Officer, while retaining his role as the Company's Chief Financial Officer. Commented Gudbranson, "I personally want to thank Gerry for his commitment to Invacare. We remain focused on completing the final third-party certification audit and demonstrating our quality systems compliance to the FDA. During this challenging time, we have three additional critical priorities, which include improving cash flow, restoring profitability in Invacare's North America/Home Medical Equipment and Asia/Pacific businesses and working to establish a new credit facility with our banks, as our existing credit facility matures in October 2015." The terms of Blouch's retirement and Gudbranson's compensation as interim President and Chief Executive Officer are detailed in a Form 8-K to be filed with the SEC on or about the date hereof. More information and complete details: www.invacare.com ((Comments on this story may be sent to [email protected])) (c) 2014 ProQuest Information and Learning Company; All Rights Reserved. [ Back To TMCnet.com's Homepage ] |