CloudMD Sees Chair Of The Board Resign Effective Immediately, No Replacement Named

Management continues to exit en masse from CloudMD Software and Services (TSXV: DOC) as tailwinds leave the healthcare tech sector. The firm this morning saw another resignation of a key member of management, this time the Chair of the Board.

The latest member to resign from their role with the company is Mark Kohler, whom was appointed as Chair of the Board in May 2020. At the time of appointment, he was hailed as an industry veteran with 33 years of experience in the healthcare, tech, and finance industries, as well as experience in the area of selling firms to larger corporations.

Kohler’s departure this morning was announced via a brief news release, indicating he would be leaving the company for personal reasons. No replacement for the role of Chair of the Board was named, and the departure is effective as of yesterday, April 21.

The departure follows that of Dr Essam Hamza, who’s last day is set for May 2. It was announced just weeks ago that he would be leaving the role he held for five years, given that it is “time for the Company to move away from its founder.” Company President Karen Adams is to take on that role on an interim basis until a suitable replacement is named. The departure also follows that of CFO David Lee, whom left in February for personal reasons.

As a result, the company now has interim executives in the roles of CEO and CFO, while no chair currently exists for the board of directors.

CloudMD last traded at $0.69 on the TSX Venture.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply