Nuwellis Inc (NASDAQ: NUWE) Appoints George Montague as Chief Financial Officer

Nuwellis Inc (NASDAQ: NUWE) has appointed George Montague as its Chief Financial Officer, operative June 28, 2021. In addition, the company has appointed June 7 2021, Neil P. Ayotte, Esq. as its Senior Vice President, General Counsel, Secretary, and Chief Compliance Officer.

“Nuwellis is arriving into an invigorating new stage with important openings in heart failure, pediatrics and critical care. The deep information and involvement in healthcare that George and Neil bring will be active as we progress our undertaking of transporting our Aquadex SmartFlow® know-how to more patients,” stated Nestor Jaramillo, Jr., president and CEO of Nuwellis.

Montague has more than two decades of experience

Montague has over two decades of experience in the fields of finance in the healthcare segment. His last position was the Chief Financial Officer and Chief Operating Officer of Smiths Medical, a $1.1 billion device manufacturer. 

Mr. Montague led investment and policy for two of Medtronic Plc’s four operating groups in his career. In addition, he worked as the Vice President, Finance and Strategy for Medtronic’s $6.5 billion working group – Restorative Therapies Group.

Neil P. Ayotte has a lot of operational and legal know-how. He was earlier Executive Vice President, General Counsel & Secretary for Bluestem Group, Inc. a $1.8 billion. Previous to holding that post, he was the Chief Legal Counsel for Medtronic’s Americas Region. In that role, he played an influential role as a strategic consultant to the senior leadership in the scheme, assessment, and application of new business models and Integrated Hospital Solutions.

The Compensation Committee of the Board of Directors has ratified an equity award to George Montague

In other news, the company has revealed that the Compensation Committee of the Board of Directors has sanctioned an equity reward to George Montague under Nuwellis’ 2021 Enticement Plan. The award is a material inducement to Mr. Montague for joining the company as its Chief Financial Officer and Treasurer.

The equity accolade was sanctioned in agreement with NASDAQ Listing Rule 5635(c)(4), which also necessitates a public declaration of equity awards not completed under a shareholder sanctioned equity plan.