Movano Hires Chief Marketing Officer to Implement Its Multi-Channel Marketing Strategy for the Movano Ring and Future Medical Devices

Rhea-AI Summary

Movano Inc. (NASDAQ: MOVE) announced the appointment of Tyla Bucher as Chief Marketing Officer to enhance its marketing strategy for the upcoming Movano Ring and future products. Bucher, with over two decades of experience in global marketing, previously drove significant brand awareness and revenue growth at Hydrow and Hasbro. The Movano Ring, designed specifically for women, aims to provide vital health metrics and will beta test in late 2022. Additionally, the company reserved 2 million shares for equity awards to enhance recruitment efforts.

Positive

• Hiring of Tyla Bucher as CMO expected to strengthen marketing strategies.
• Movano Ring set for beta release, enhancing product focus and market entry.

Negative

• Concerns over continuity in leadership with recent executive changes.

The Company also provided a broader update on recent hiring initiatives

PLEASANTON, Calif., April 18, 2022 /PRNewswire/ -- Movano Inc. (Nasdaq: MOVE), a purpose-driven healthcare solutions company at the intersection of medtech and consumer devices, announced the expansion of its senior leadership team with the strategic hire of Chief Marketing Officer (CMO), Tyla Bucher.

Tyla brings over two decades of experience building and launching global integrated consumer marketing campaigns for top-tier brands. In her most recent role as Senior Vice President of Marketing for Hydrow, maker of the leading at-home connected rower, she successfully launched the company's first full funnel brand campaign, doubling brand awareness and contributing to its impressive revenue growth. Prior to Hydrow, Tyla held various brand strategy and marketing leadership roles at Hasbro, where she oversaw the development of the company's first direct to consumer channel, as well as led strategic direction of a key $1.5 billion global entertainment brand. Tyla also served as Vice President Brand Marketing at Twentieth Century Fox where she oversaw the execution of strategic business plans across multiple channels on all studio new release titles. Additionally, she spearheaded the division's rapid expansion into digital distribution, driving new windowing strategies and building tailored cross platform consumer marketing programs, contributing to the record setting success of award-winning studio releases. As Movano's CMO, Tyla will oversee the Company's brand, communication and marketing strategies as well as work cross-functionally to develop partnerships and sales strategies.

"Since unveiling plans for our first product, the Movano Ring, we've built a tremendous amount of forward momentum and are hyper focused on preparing to bring an attractive, intuitive and intelligent ring to the market this year.  As we move closer to productization, we've brought Tyla on to drive our vision, mature our brand and lead tactical marketing efforts that will be critical to the launch of the Ring and positioning Movano for revenue generation," said Dr. John Mastrototaro, CEO of Movano Inc. "Tyla brings a strong female point of view, an unmatched level of creativity and valuable strategic marketing skills to our senior leadership team that we believe will be instrumental in connecting Movano to consumers and partners and bringing our brand to life."

Movano announced its flagship product, the Movano Ring, in December 2021. Designed for women, the Ring and its accompanying app combine vital health metrics with personalized intelligent feedback. The Ring helps you make connections between cause and effect and understand the correlation between how you feel and various areas of your health, including activity, sleep and more, by measuring heart rate, heart rate variability, sleep, respiration rate, temperature, blood oxygen saturation, steps and calories. Movano plans to add medically validated data to its platform, which caretakers and healthcare professionals can use to help you identify and better manage the symptoms of chronic conditions.

The Movano Ring is expected to be one of the most affordable health devices on the market and will be available through a beta release in the second half of 2022.

In support of Movano's continued growth plans and as previously disclosed, the Company's Board of Directors has approved the reservation of 2,000,000 shares of common stock to be used exclusively for the grant of equity awards to individuals who were not previously employees of the Company (or following a bona fide period of non-employment), as an inducement to an individual's entry into employment with the Company within the meaning of Rule 5635(c)(4) of the NASDAQ Listing Rules.

On April 15, 2022, pursuant to the inducement award plan Movano granted inducement stock option awards covering a total of 295,000 shares of common stock to three new non-executive employees. The stock options were granted on April 15, 2022 at an exercise price of $2.54 per share. The stock options vest as follows: one-fourth vests on the first anniversary of the grant date and the balance vests in 36 equal monthly installments thereafter. The awards were approved by a majority of the independent members of the Company's Board of Directors and were granted as an inducement material to the new employees' entering into employment with the Company in accordance with NASDAQ Marketplace Rule 5635(c)(4). The Company is making this announcement as required by NASDAQ rules.

For more information on Movano, visit www.movano.com.

About Movano Inc.

Founded in 2018, Movano Inc. (NASDAQ:MOVE) is developing a platform to deliver purpose-driven healthcare solutions at the intersection of medtech and consumer devices. We are on a mission to empower and inspire you to live a healthier, happier life by combining vital health data with personalized intelligent feedback in stylish form factors. Movano plans to add medically validated data to its platform that caretakers and healthcare professionals can use to help you identify, treat or better manage the symptoms of chronic conditions.

Forward-Looking Statements

This press release contains forward-looking statements concerning our expectations, anticipations, intentions, beliefs or strategies regarding the future. These forward-looking statements are based on assumptions that we have made as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results, conditions and events to differ materially from those anticipated. Therefore, you should not place undue reliance on forward-looking statements. Examples of forward-looking statements include, among others, statements we make regarding expected future operating results; product development and features, product releases, clinical trial and regulatory initiatives; our strategies, positioning and expectations for future events or performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q, and in our other reports filed with the Securities and Exchange Commission, including under the caption "Risk Factors."  Any forward-looking statement in this release speaks only as of the date of this release. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

 

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SOURCE Movano

FAQ

What is the significance of hiring Tyla Bucher as CMO for Movano?

Tyla Bucher's hiring is expected to enhance Movano's marketing strategies and brand visibility, crucial for the launch of the Movano Ring.

When is the beta release of the Movano Ring scheduled?

The beta release of the Movano Ring is anticipated in the second half of 2022.

What are the key responsibilities of the new CMO at Movano?

The CMO will oversee the company's branding, communication, and marketing strategies, as well as develop sales partnerships.

How many shares has Movano reserved for equity awards?

Movano has reserved 2 million shares of common stock for equity awards to new employees.

What previous experiences does Tyla Bucher bring to Movano?

Tyla Bucher has over 20 years of experience in marketing, having previously worked with Hydrow and Hasbro.