- Ray Huggenberger Retires from Board
-
Inogen, Inc. (NASDAQ: INGN), a medical technology company
offering innovative respiratory products for use in the homecare
setting, announced today that Elizabeth (Beth) Mora was elected as
Board Chairperson. Ms. Mora has served as a member of Inogen’s
Board of Directors since May 24, 2021, and is also a member of the
Audit and Compliance Committees. She assumes the role from Heath
Lukatch, Ph.D., who has served as Chairperson of the Board since
2008. Dr. Lukatch will remain on the Board as a director and member
of the Compensation Committee.
In addition, Ray Huggenberger, who has served on the Board since
2008, is retiring from the Board, and transitioning to an advisory
role. Ms. Mora will replace Mr. Huggenberger as Chair of the
Compliance Committee. Following Mr. Huggenberger’s retirement, the
Board has been reduced to seven members.
“It has been an honor to serve as the Chairperson of Inogen’s
Board of Directors and I am confident Beth is the right choice to
assume the Chairperson position, as evidenced by the tremendous
support she has received from her fellow directors,” said Dr.
Lukatch. “As we continue to evolve Inogen, including recent changes
we have made to our executive team, these alterations to the Board
are consistent with our goal of transforming Inogen into a more
prominent player in respiratory care. Beth’s leadership and
operational experience at world-leading research institutions,
combined with her track record on public company boards, including
serving as a chair of several audit committees, will be
instrumental in leading the Board and continuing Inogen’s growth. I
look forward to continuing to work with her, other directors and
the management team, as we continue on our path to transform
Inogen.”
Dr. Lukatch continued: “Additionally, I want to thank Ray for
his years of dedication to Inogen. In his prior roles as President
and CEO as well as a Director, Ray has made significant
contributions to the Company and we have benefitted immensely from
his leadership, counsel and expertise. We wish him all the
best.”
“Over the past seven months, I have worked closely with Beth and
valued her partnership and counsel.” said Nabil Shabshab, President
and CEO of Inogen. “I am very excited about continuing our thought
partnership and collaboration to build a stronger Inogen.”
Ms. Mora said: “I am honored to take on this new role as Chair
of Inogen’s Board of Directors at such an important time in the
Company’s evolution. I look forward to continuing to work alongside
Nabil, Heath, and the rest of the Board and leadership team, as we
continue to build on our strategic goals of increasing POC market
penetration and improving patient access, all while delivering
sustainable, long-term value for stockholders.”
Mr. Huggenberger added, “It has been an honor and a privilege to
have the opportunity to work with so many talented colleagues at
Inogen over the years. I am confident the company is well
positioned for future success.”
In connection with these Board changes, Inogen director Kristen
Miranda, has reclassified and become a Class III director, joining
with Dr. Lukatch. Class I directors are comprised of Heather Rider
and Ms. Mora and Class II directors are comprised of Loren
McFarland, Benjamin Anderson-Ray and Nabil Shabshab.
About Inogen
We are a medical technology company offering innovative
respiratory products for use in the homecare setting. We primarily
develop, manufacture and market innovative portable oxygen
concentrators used to deliver supplemental long-term oxygen therapy
to patients suffering from chronic respiratory conditions.
For more information, please visit www.inogen.com.
Inogen has used, and intends to continue to use, its Investor
Relations website, http://investor.inogen.com/, as a means of
disclosing material non-public information and for complying with
its disclosure obligations under Regulation FD. For more
information, visit http://investor.inogen.com/.
Cautionary Note Concerning Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including, among others, statements with respect to the
announced changes to the Board of Directors, statements concerning
or implying Inogen’s future financial performance, statements
regarding Inogen’s goals and potential, and the ability of board
and management personnel to contribute to the execution of Inogen’s
strategic plans and goals. Any statements contained in this
communication that are not statements of historical fact may be
deemed to be forward-looking statements. Words such as “believes,”
“anticipates,” “plans,” “expects,” “will,” “intends,” “potential,”
“possible,” and similar expressions are intended to identify
forward-looking statements. Forward-looking statements are subject
to numerous risks and uncertainties that could cause actual results
to differ materially from currently anticipated results, including
but not limited to, risks related to its announced management and
organizational changes, and risks arising from the possibility that
Inogen will not realize anticipated future financial performance or
strategic goals. In addition, Inogen's business is subject to
numerous additional risks and uncertainties, including, among
others, risks relating to market acceptance of its products;
competition; its sales, marketing and distribution capabilities;
its planned sales, marketing, and research and development
activities; interruptions or delays in the supply of components or
materials for, or manufacturing of, its products; seasonal
variations; unanticipated increases in costs or expenses; and risks
associated with international operations. Information on these and
additional risks, uncertainties, and other information affecting
Inogen’s business operating results are contained in its Quarterly
Report on Form 10-Q for the period ended September 30, 2021, and in
its other filings with the Securities and Exchange Commission.
These forward-looking statements speak only as of the date hereof.
Inogen disclaims any obligation to update these forward-looking
statements except as may be required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20211230005048/en/
Investor and Media Contacts Bryan Locke, Mike DeGraff,
Gabriella Coffey ir@inogen.net
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