Name: Kari Keese
New title: CFO, Axonics
Previous title: Vice president of finance and accounting, Axonics
Kari Keese will replace Dan Dearen as chief financial officer of Axonics, a maker of implantable neuromodulation devices to treat urinary and fecal incontinence, the company said Monday.
Dearen, an Axonics co-founder, plans to retire after 10 years with the company. The transition will occur Oct. 2.
Dearen’s retirement is “unexpected, but not concerning,” Truist Securities analyst Richard Newitter said Monday in a research note. “Mr. Dearen was very well-liked/respected by the investment community and he will certainly be missed. But we don't think this management update has any (negative) implication to [Axonics’] strategy, growth prospects, or profit ramp,” Newitter said.
Keese, who joined Axonics in 2014, leads the finance and accounting functions and previously was director of finance and controller. Before joining Axonics, Keese was controller at Vessix Vascular, a company led by Dearen and Axonics CEO Raymond Cohen that was acquired by Boston Scientific in 2012.
“Kari’s deep knowledge of the company and track record of financial leadership make her an ideal successor to Dan,” Cohen said in the company’s statement.
Keese, a certified public accountant, holds a bachelor of arts degree in business economics from the University of California, Santa Barbara, and a management certification from UCLA Anderson School of Management.
Dearen said the company’s therapies have improved the quality of life for tens of thousands of incontinence patients. “I will follow Axonics with pride as it continues on its path to market leadership,” he said in a statement.
Axonics, which is embroiled in a patent dispute with Medtronic, reaffirmed its fiscal 2023 revenue forecast of $358 million in announcing the CFO change.
