Posted on May - 02 - 2010
Invacare Corp. CEO A. Malachi Mixon takes medical leave after ‘mild stroke’
Invacare Corp. (NYSE: IVC) of Elyria said A. Malachi Mixon III, its chairman and CEO, is taking a temporary medical leave after suffering what was described as “a mild stroke.”
The provider of wheelchairs, portable oxygen and other home health equipment said Gerald B. Blouch, president and chief operating officer, will be interim CEO. Mr. Blouch has been with the company since May 1990 and has been COO since December 1994. James C. Boland, Invacare’s lead director and a member of the board since 1998, will be interim chairman of the board of directors.
In a statement from the company, Mr. Mixon said, “I have suffered a mild stroke, but fortunately, my condition is stable and my doctors have told me the prognosis for a full recovery is favorable. I look forward to returning to Invacare soon to full duty. In the interim, I am pleased to have Gerry Blouch and Jim Boland assume responsibility for my day-to-day activities as CEO and Chairman of Invacare.”
Mr Boland said that in the interest of allowing Mr. Mixon to focus on his recovery, “We are implementing a succession plan that we have had in place for some time. Gerry has the entire board’s complete support and has full authority to act as CEO during this time. We have every confidence that Invacare’s outstanding tenured management team will continue operations seamlessly.”
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