Analytica promotes COO Geoff Daly to CEO

Analytica (ASX:ALT) has promoted former operations manager and COO Geoff Daly to the post of CEO as it prepares to launch its lead product PeriCoach this year.

Daly has been in the COO role for the past eight years. Prior to joining Analytica, he spent seven years at ResMed (ASX:RMD), where he held various senior engineering and project management roles.

“Geoff knows the Analytica business perhaps better than anyone and is very well equipped to move into the CEO position,” said Dr Michael Monsour, chairman of Analytica.

“He has reported directly to the board of directors and managed the Analytica team for some time now as well as overseeing all non-financial matters. We are confident he’ll make an outstanding CEO and continue to uphold the high standards he’s set within the company.”

Daly’s employment terms will see him continue to receive a base salary of $210,000, as well as a sign-on bonus of 5 million options designed to vest when the company becomes cash flow positive.

Analytica is gearing up to launch PeriCoach - a medical device for strengthening the pelvic floor muscles in women with urinary incontinence - in the Australian, US and European markets this year. The product currently has regulatory approval in Australia and Analytica will be applying for regulatory clearance in Europe and the US in the next couple of months.

The company last month appointed Benitec Biopharma Chief Business Officer Carl Stubbings as a non-executive director.

Analytica (ASX:ALT) shares were trading unchanged at $0.025 as of around 2 pm on Thursday