The board of SomnoMed Limited (ASX:SOM) is pleased to announce the appointment of Derek Smith as new global CEO from 1 September 2016. The appointment followed an extensive search and evaluation of candidates by executive search firm Spencer Stuart in New York. Dr. Peter Neustadt, the current global CEO and Executive Chairman of SomnoMed Limited will return to his previous role of nonexecutive Chairman after transferring global executive responsibilities during the month of September.
Derek has held senior positions with Respironics, Inc. since 2005. He had an outstanding career over the years in sales and marketing of various US and international healthcare companies, which included E Merck, Datex Ohmeda and McKesson. In 2005 Derek accepted the appointment as President of Respironics Hospital Group, being part of the top management team of the leading US CPAP maker. Following the takeover of Respironics in 2008 by global Philips corporation, Derek held positions as Senior Vice President of Respiratory and Perinatal Care for Philips Healthcare, as Senior Vice President of Therapeutic Care and finally as CEO Hospital to Home Business division at Philips Healthcare.
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