Ekso Bionics CEO Jack Peurach Steps Down

Ekso Bionics’ CEO Jack Peurach has left the company, effective January 21, to pursue other endeavors. He also stepped down from the company’s Board of Directors.
 
Effective January 22, Board Chairman Steven Sherman was appointed CEO. Scott Davis, the company’s executive VP of strategy and corporate development, was promoted to president and COO. Current Board member Stanley Stern was named the Board’s lead independent director upon Sherman’s commencement as CEO.
 
“Ekso Bionics posted record revenue for the fourth quarter, which we believe reflects continued momentum and progress with leading inpatient rehabilitation providers across all regions, as well as greater sales in our industrial segment,” Stern told the press. “This performance and the opportunities we see ahead give us confidence in our future.”
 
Stern continued, “Jack has led the company through several difficult years, guiding the Company to growth and through a very successful financing last year, despite the impact of COVID. On behalf of the entire Board, we thank him for his service to Ekso Bionics. We are delighted that Steven has agreed to take on the CEO role in addition to his service as Chairman. Steven has demonstrated deep commitment to the company, having invested significant amounts of his personal capital since 2013, when he began working with Ekso Bionics. We originally appointed Steven as Chairman because of his extensive track record of success and growth as an executive, chairman or board member of several technology-based, publicly traded companies. He has been highly engaged, and during his time as CEO, we expect the Company and our shareholders will benefit as he leads the evolution of our strategy to drive enhanced value for all stakeholders.”
 
Peurach said, “After four challenging yet rewarding years as CEO, I have accomplished the goals of putting the company on stronger financial footing and building good business momentum. It’s now time for the company to have new leadership to guide it to its next phase.”
 
Sherman commented, “I am proud to lead Ekso Bionics as CEO and embrace this role with a sense of urgency and optimism. I look forward to working more directly with the Ekso Bionics management team to evolve our strategy, expand our portfolio of products and leverage our well established sales channel. We see many options for growth, and our Board and industry networks will be fully engaged to support us as we enter our next phase. We’ve spent the last several months building a well-credentialed Board to expand our access to customers, technology and business channels, and their experience gives us further confidence in our future. I firmly believe in the Company and its prospects, and to demonstrate that belief and further align my performance with our shareholders, I have requested and the Board has agreed that I will forego cash salary as CEO in favor of compensation in shares of Ekso Bionics.”
 
Sherman continued, “I am also proud to have Scott’s support as an executive and key part of the Company’s leadership team. Scott is a proven leader, recruited for his managerial experience and track record in building revenues and partnerships in growth companies, and will help lead the day to day oversight of the company’s staff and operations.”