Dynatronics Corp., based in Cottonwood Heights, has announced a restructuring of its leadership necessitated by the resignation of founder Kelvyn Cullimore as chairman, president and CEO. Cullimore will continue to serve as a non-employee member of the board, the company said in a release.
{mprestriction ids="1,3"}As part of the restructuring, the positions of chairman and CEO will be separated. Dynatronics said it would appoint a new CEO by June 30 and that the company will not select a new president due to a realignment of the operations. The company announced the appointment of Erin S. Enright as chairman of the board, effective immediately.
The restructuring includes the creation of a new Therapy Products Division, comprising the operations of Dynatronics Corp. prior to the company’s recent acquisitions of Hausmann Industries and Bird & Cronin. Brian Baker has been named president of the new division.
“Dynatronics’ board of directors is implementing a transition process to allow a smooth transfer of Mr. Cullimore’s responsibilities while it undertakes a search for a new CEO,” the release from the company said. “The board has formed a search committee, led by Ms. Enright, to identify and select a successor to Mr. Cullimore. Other members of the committee include independent directors Scott Klosterman, chairman of the board’s Compensation Committee, and Brian Larkin.”
“These leadership changes will clarify Dynatronics’ structure and strengthen the company’s foundation to support its growth and profitability,” said Enright. “Separating the chairman of the board and the CEO roles will provide the appropriate governance structure to balance the board’s independent authority to oversee the business and the CEO’s management of the business day-to-day.”
“It has been my distinct pleasure to serve Dynatronics since my father and I founded the company in 1979,” said Cullimore. “In that time, we have positioned the company as a global leader in the rapidly developing areas of physical therapy, athletic training and orthopedics. The partnership with Prettybrook Partners in 2015 set the company on a strong growth trajectory, which we plan to accelerate in the years ahead. I believe the time is right to divide my responsibilities and transition to a new CEO to lead us through this next stage of growth. I am proud of our more than three decades of accomplishments and look forward to continuing my contributions to the success of the company as a member of the board of directors.”
Enright has been a director of the company since 2015 and has served as the chairman of the Nominating and Governance Committee.
“Under Kelvyn’s leadership, numerous organizational and operational improvements have been made and new businesses and markets have been opened,” Enright said. “His leadership has positioned the company to take advantage of Dynatronics’ many opportunities.”
“Brian Baker brings decades of experience in optimizing business processes, product development, operations and expanding distribution,” Enright said of the president of the company’s new division. “In this newly created role, he is uniquely positioned to propel and expand our modalities and other capabilities worldwide. We believe that Brian has the skills and focus to drive growth and profitability in the Therapy Products Division at what is an exciting time for the industry.”
Dynatronics, through its Therapy Products, Hausmann Industries and Bird & Cronin divisions, designs, manufactures, markets and distributes advanced-technology medical devices, therapeutic and medical treatment tables, rehabilitation equipment, custom athletic training treatment tables and equipment, institutional cabinetry, orthopedic soft goods, as well as other specialty patient, rehabilitation and therapy products and supplies.{/mprestriction}
