QT Vascular reported Saturday that Eitan Konstantino, age 54, would step down from the CEO role, effective 30 November.
Konstantino had been expected to leave the role after the company completed the disposal of certain assets to G Vascular, along with those assets’ successful integration, QT Vascular said in a filing to SGX, citing an announcement in 27 August.
But Konstantino, who was appointed in 2013, extended his tenure at the board’s request, with an agreement reached for his to stay on either until the deal was completed or by 31 December, whichever came first, the filing Saturday said.
QT Vascular said that “in view of recent developments,” Konstantino informed the company he wanted to exit earlier, to pursue other commitments, and the board has agreed.
Although the company didn’t specify the developments in Saturday’s statement, the company earlier this week reported that a substantial shareholder was seeking an extraordinary general meeting (EGM) to remove management, including Konstantino.
Konstantino holds 38.04 million ordinary shares of QT Vascular, the filing Saturday said.