Dynatronics Corporation Announces New Chief Executive Officer
- John Krier Promoted to CEO
- Brian Baker Stepping Down for Personal Reasons, Continuing as Board Member and Consultant
EAGAN, MINNESOTA / ACCESSWIRE / July 8, 2020 / Dynatronics Corporation (NASDAQ:DYNT), a leading manufacturer of athletic training, physical therapy, and rehabilitation products, today announced that on July 7, 2020 its Board of Directors promoted John Krier to Chief Executive Officer Mr. Krier has also joined the company's Board of Directors His appointment comes after Brian Baker announced his resignation due to health issues relating to the COVID-19 virus. Mr. Baker continues as a member of the Dynatronics Board of Directors and will work for the company as a consultant on a part-time basis.
Mr. Krier joined Dynatronics in March 2020 as Chief Financial Officer overseeing the finance and commercial organizations. Mr. Krier has made significant impacts during his time with Dynatronics, as he moved the finance team to Minnesota and refocused the sales force as COVID-19 restrictions limited in-person sales to hospitals and clinics. Dynatronics has commenced a search for a new Chief Financial Officer, and Mr. Krier will serve as the company's interim Chief Financial Officer until his replacement is appointed.
"Brian has made significant accomplishments during his tenure at Dynatronics," stated Erin S. Enright, chairman of the Board of Directors. "Under his leadership the Company has streamlined operations, significantly reduced costs, and centralized its management team in Minnesota. The Board of Directors supports Brian in his recovery and is very pleased that he will continue as our colleague on the Board, as well as providing John and the management team his insight and efforts as a consultant."
"Our election of John as the next CEO reflects the Board's belief that his industry knowledge, collaborative leadership and strong financial expertise positions him to lead Dynatronics well into the future," Ms. Enright commented.
"Brian's leadership has prepared Dynatronics to attain its long-term vision," said Mr. Krier. "During the time that I have worked with Brian, he has managed with dedication and efficiency as he successfully steered us through the current challenges. I am honored and excited to step into his role and to lead our dedicated employees in this dynamic time."
Prior to joining Dynatronics, Mr. Krier served as Vice President of Marketing of Breg, Inc., a global medical device company from March 2014 to November 2019, and provided consulting services to Breg from December 2019 until March 2020. Prior to joining Breg, Mr. Krier was President of Viscent, LLC, an orthopedic bracing supplier, from September 1, 2009 through October 1, 2012, and Executive Consultant to the Chief Executive Officer and Board of Directors from October 2012 through September 2013. Mr. Krier holds a B.S. degree in Business Administration from the University of South Dakota.
About Dynatronics Corporation
Dynatronics is a leading medical device company committed to providing high-quality restorative products designed to accelerate achieving optimal health. The Company designs, manufactures, and sells a broad range of products for clinical use in physical therapy, rehabilitation, pain management, and athletic training. Through its distribution channels, Dynatronics markets and sells to orthopedists, physical therapists, chiropractors, athletic trainers, sports medicine practitioners, clinics, hospitals, and consumers. The Company's products are marketed under a portfolio of high-quality, well-known industry brands including Bird & Cronin®, Solaris™, Hausmann™, Physician's Choice®, and PROTEAM™, among others. More information is available at www.dynatronics.com.
Safe Harbor Notification
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Those statements include references to the company's expectations and similar statements. Such forward-looking statements reflect the views of management at the time such statements are made. These statements include our financial guidance, including uncertainties involving the impact of the COVID-19 pandemic on the Company's results of operations and financial condition, our expected revenues, gross profit, and selling, general, and administrative expenses. These forward-looking statements are subject to a number of risks, uncertainties, estimates, and assumptions that may cause actual results to differ materially from current expectations. The contents of this release should be considered in conjunction with the risk factors, warnings, and cautionary statements that are contained in the company's most recent filings with the Securities and Exchange Commission, including the company's Annual Report on Form 10-K for the fiscal year ended June 30, 2019, which was filed on September 25, 2019. Dynatronics does not undertake to update its forward-looking statements, whether as a result of new information, future events, or otherwise.
SOURCE: Dynatronics Corporation
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