Inogen Announces CEO Transition
Inogen, Inc. (NASDAQ: INGN) has appointed Nabil Shabshab as President and CEO, effective February 8, 2021, succeeding Scott Wilkinson, who is retiring. Shabshab brings extensive experience from Becton Dickinson, where he served as Worldwide President of Diabetes Care. The Board expressed confidence in Shabshab's leadership to drive growth and enhance patient access to innovative respiratory products. Inogen is recognized for its portable oxygen concentrators aimed at improving the lives of respiratory therapy patients.
- Nabil Shabshab appointed President and CEO, expected to drive growth.
- Shabshab has significant experience in medical technology from Becton Dickinson.
- Scott Wilkinson's retirement raises concerns about continuity in leadership.
- Potential risks associated with management changes and revenue realization.
Inogen, Inc. (NASDAQ: INGN), a medical technology company offering innovative respiratory products for use in the homecare setting, announced today that its Board of Directors has appointed Nabil Shabshab as Inogen’s President and Chief Executive Officer (“CEO”), effective February 8, 2021. In addition, Mr. Shabshab was appointed to the Board of Directors, effective February 8, 2021. Mr. Shabshab will succeed Scott Wilkinson, who is retiring as President, CEO, and as a director, in each case effective February 8, 2021.
Heath Lukatch, Ph.D., Inogen’s Chairman, said, “On behalf of the Board of Directors, I would like to congratulate Nabil on this appointment and thank Scott for his significant contributions to Inogen over the last fifteen years. During Scott’s tenure with the company, Inogen became the market leader in portable oxygen concentrators, with best-in-class products and an innovative go to market approach. Nabil is a highly talented and experienced executive who we believe will be critical to Inogen’s plans for growth, as we continue to work towards improving the lives of respiratory therapy patients.”
“I am honored for the opportunity to lead Inogen in our mission to increase the freedom and independence for respiratory patients and to make our technologies the standard of care,” said Mr. Shabshab. “I look forward to driving the next phase of Inogen’s success as we continue to seek ways to increase patient access to our technologies, expand the impact we have on patients, drive growth business, and increase value for our stockholders.”
“I am grateful to have led this outstanding company and to be a part of improving almost a million patients’ lives with our innovative portable oxygen concentrators,” said Mr. Wilkinson. “As I previously disclosed, this is the right time for me personally to retire as CEO, and I believe that Inogen will continue to increase patient and physician awareness of our products while also focusing on providing excellent service.”
Most recently, Mr. Shabshab, 56, has served as Worldwide President of Diabetes Care and Digital Health at Becton Dickinson and Company, a leading medical technology company, since August 2017. Prior to that, since August 2011, Mr. Shabshab served as Becton Dickinson’s Chief Marketing Officer and Executive Vice President of Strategic Planning. Prior to Becton Dickinson, Mr. Shabshab served as EVP, Global Portfolio, Chief Marketing Officer and Head of RD&E of Diversey, Inc., a cleaning and sanitation solutions company from 2006 to 2010. In his previous roles Mr. Shabshab served as Principal with The Zyman Group, as Vice President, Client Solutions and Consulting with Symphony IRI, and in various sales and marketing roles in pharmaceutical and consumer goods companies including Warner Lambert / Pfizer, the Coca-Cola Company, and Fronterra. Mr. Shabshab holds an MBA from Northwestern University Kellogg School of Management and a B.S. in Computer Sciences from American Lebanese University.
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.
Cautionary Note About 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 management and organizational changes, statements concerning or implying Inogen’s future financial performance, trends and opportunities affecting Inogen, and the ability of management personnel and our board of directors to contribute to increasing patient access to our products and technologies, expanding our business, and increasing value for our stockholders. 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, risks arising from the possibility that Inogen will not realize anticipated revenue; the risks related to the COVID-19 public health emergency; the impact of changes in reimbursement rates and reimbursement and regulatory policies; the possible loss of key employees, customers, or suppliers; risks relating to Inogen’s acquisition of New Aera and the integration of New Aera’s business and operations within those of Inogen; risks relating to reimbursement coding of the Tidal Assist© Ventilator (TAV); the possibility that Inogen will not realize anticipated revenue from the technology acquired from New Aera or that expenses and costs will exceed Inogen’s expectations; intellectual property risks if Inogen is unable to secure and maintain patent or other intellectual property protection for the intellectual property used in its products; and intellectual property risks relating to the acquisition of New Aera, including the risk of intellectual property litigation. 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 and operating results are contained in Inogen's Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 and its subsequent SEC filings. 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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FAQ
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