Edap Tms SA (ADR) (NASDAQ:EDAP), the global leader in therapeutic ultrasound, announced that François Dietsch, currently Group Financial Control Manager and Finance Manager of the Company’s French subsidiary, has been promoted to the position of Chief Financial Officer, effective immediately.
“On behalf of the management team and Board of Directors, I would like to congratulate François on being promoted to CFO. In his ten years with the Company he has been integral to the advancement of our finance team and the evolution of our financial reporting capabilities,” said Marc Oczachowski, EDAP Chief Executive Officer. “He enters this role with a deep understanding of our business and familiarity with our internal controls and reporting systems, which he helped to design and implement. I am confident that these attributes will ensure a smooth transition and continuity and I look forward to working more closely with him as we continue to expand our global business ventures.”
Dietsch joined EDAP in 2005 as Internal Audit and Consolidation Manager, leading the implementation of internal controls for Sarbanes-Oxley Compliance, consolidation of financial statements from the Company’s subsidiaries and preparation of financial statements in accordance with U.S. GAAP, including EDAP’s Annual Report on Form 20-F. In 2012, he was promoted to his current position of Group Financial Control Manager and Finance Manager of EDAP’s French subsidiary where, in addition to his previous responsibilities, he managed accounting firm relationships at the subsidiary level and was the primary liaison between the Company and its external auditors. He also managed the Finance department at EDAP France. Prior to joining EDAP he held finance positions at Valeo, a leading global supplier of components and systems to the automotive industry. He holds Master’s Degrees in Management and Corporate Finance from Paris Dauphine University.
“This internal promotion will assure immediate transition and full continuity of all financial responsibilities at EDAP,” added Philippe Chauveau, Chairman of the Board. “As we continue to grow the Company, we are pleased to see talent and leadership emerge from within.” (Original Source)
Shares of EDAP TMS S.A. closed yesterday at $3.43. EDAP has a 1-year high of $5.80 and a 1-year low of $1.15. The stock’s 50-day moving average is $3.38 and its 200-day moving average is $3.28.
On the ratings front, H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on EDAP, with a price target of $4.50, in a report issued on May 15. The current price target implies an upside of 31.2% from current levels. According to TipRanks.com, Ramakanth has a total average return of 10.3%, a 40.5% success rate, and is ranked #921 out of 3702 analysts.
Edap TMS SA is a holding company. The Company through its divisionsHIFU and UDS,develops, produces and markets minimally invasive medical devices for urological diseases. Its divisionsoperate in Europe, the Americas, Asia and the rest of the world.