ALAMEDA, Calif., July 5, 2017 – Penumbra, Inc. (NYSE: PEN) today announced that Daniel Davis has been promoted and will add the title of Chief Commercial Officer to his existing title of President, North America. Mr. Davis joined Penumbra in 2007 as one of the first members of the Company’s sales team and has advanced within the organization through various roles with increasing levels of responsibility. Starting in 2011, Mr. Davis served in senior roles on the marketing and sales management teams based out of the Company’s headquarters in Alameda. Since that time he has played a critical role in building the Company’s North American commercial operations as the Company’s President, North America.
“Daniel is a critical member of the Penumbra team and this promotion is recognition of his extraordinary contributions,” said Adam Elsesser, Chairman, President and Chief Executive Officer. “He has provided invaluable focus and contributions to our sales organization, training, and relationships with key customers. Daniel’s contributions have also included continuous clinical input on our developing product portfolio. Daniel will continue to lead our North American sales team, and Penumbra will continue to benefit greatly from Daniel’s knowledge, experience and leadership. This announcement also serves as a testament to the talent within our company.”
Penumbra, Inc., headquartered in Alameda, California, is a global healthcare company focused on interventional therapies. Penumbra designs, develops, manufactures and markets innovative devices and has a broad portfolio of products that addresses challenging medical conditions and significant clinical needs across two major markets, neuro and peripheral vascular. Penumbra sells its products to hospitals primarily through its direct sales organization in the United States, most of Europe, Canada and Australia, and through distributors in select international markets. Penumbra and the Penumbra logo are trademarks of Penumbra, Inc.
Except for historical information, certain statements in this press release are forward-looking in nature and are subject to risks, uncertainties and assumptions about us. Our business and operations are subject to a variety of risks and uncertainties and, consequently, actual results may differ materially from those projected by any forward-looking statements. Factors that could cause actual results to differ from those projected include, but are not limited to: failure to sustain or grow profitability or generate positive cash flows; failure to effectively introduce and market new products; delays in product introductions; significant competition; inability to further penetrate our current customer base, expand our user base and increase the frequency of use of our products by our customers; inability to achieve or maintain satisfactory pricing and margins; manufacturing difficulties; permanent write-downs or write-offs of our inventory; product defects or failures; unfavorable outcomes in clinical trials; inability to maintain our culture as we grow; fluctuations in foreign currency exchange rates; and potential adverse regulatory actions. These risks and uncertainties, as well as others, are discussed in greater detail in our filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ended December 31, 2016 filed with the SEC on February 28, 2017. There may be additional risks of which we are not presently aware or that we currently believe are immaterial which could have an adverse impact on our business. Any forward-looking statements are based on our current expectations, estimates and assumptions regarding future events and are applicable only as of the dates of such statements. We make no commitment to revise or update any forward-looking statements in order to reflect events or circumstances that may change.
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SOURCE Penumbra, Inc.