Invacare names new SVP, CFO
By HME News Staff
Updated 11:13 AM CDT, Tue June 27, 2023
ELYRIA, Ohio – Invacare has appointed Kai Zhu as senior vice president and CFO effective July 1. Zhu, who has served as Invacare’s vice president of finance for the Europe, Middle East and Africa (EMEA) since April 2022, has more than two decades of financial leadership experience. “On behalf of the board of directors, I am pleased to welcome Kai as our next chief financial officer,” said Geoffrey P. Purtill, president and CEO. “Kai brings deep experience and financial acumen to the global leadership team and is well suited to lead our financial organization as Invacare enters its next phase of growth and development.” Zhu will receive, among other benefits, an initial annual salary of $400,000 and an annual target incentive amount equal to 75% of his salary, which for 2023 will be prorated for the period during which he serves as senior vice president and CEO, according to a Form 8-K. Kathleen Leneghan, Invacare’s current senior vice president and CFO, informed the company on June 22 that she was retiring. She will remain at the company until Oct. 1 to assist with the orderly transition of her duties to Zhu. “I want to express my sincere gratitude and appreciation to Kathy for her over 30 years of service to Invacare and her dedication and resilience in leading our organization through a critical phase of our evolution,” Purtill said. “We wish Kathy well in her retirement.”
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