After mounting a comeback in 2018, Tandem Diabetes Care will have a new CEO in 2019.
John Sheridan, who is Tandem’s executive vice president and chief operating officer, will take the top spot in March. Sheridan’s appointment was announced as part of fourth quarter earnings on Feb. 26.
Tandem makes touchscreen diabetes pumps.
Sheridan will succeed Kim Blickenstaff, who will transition to a new position: executive chairman of the board. Board Chairman Dick Allen will become the lead board director, and board member Fred Cohen will not stand for re-election.
The company anticipates Sheridan will be nominated to fill the seat. He joined Tandem Diabetes Care in 2013. Previously, he was the chief operating officer of Rapiscan Systems, maker of security equipment and systems. Prior to that, he acted as the executive vice president of research and development and operations for Volcano Corp., a medical technology company.
Blickenstaff has been CEO since 2007.
In fourth quarter results, Tandem reported $3.7 million in net income, versus an $11.4 million loss during the same period in 2017. The $3.7 million in net income was on sales of $76.2 million, an 89 percent year-over-year increase.
“2018 was both extraordinary and transformative for our company, as we entered the year fighting for a place in the domestic insulin pump market and exited as a global leader in diabetes technology,” said Blickenstaff in a news release.