Titan Medical’s CFO to Retire; Successor Named

Titan Medical Inc., a medical device company focused on the design and development of single-port robotic surgical technologies, has announced its Chief Financial Officer (CFO) Stephen Randall will retire after more than 10 years with Titan. As part of the Company’s succession planning process, Monique L. Delorme, currently Vice President, Finance at Titan, will be promoted to CFO effective October 1, 2020.

During his tenure at Titan, Mr. Randall played a leading role in financing Titan through 30 capital transactions, raising more than US $260 million to fund the Company’s research and development in robotic surgical technologies.

“For the past 10 years, Stephen has played a pivotal role in Titan’s journey from an early stage start up to become a leader in single-port robotic surgical technologies,” said David McNally, President and CEO of Titan Medical Inc. “Stephen’s leadership, guidance and unwavering commitment to Titan has been vital to our business—and for that we thank him. I am also pleased that Stephen will remain with the Company in his capacity as a director of the board and will continue to guide the Company toward realizing its vision for improving patient outcomes with its single-port robotic surgical system.”

Ms. Delorme joined the Company in March of 2019 and has been working closely with Mr. Randall during this transition period.

Ms. Delorme brings over 25 years of senior corporate leadership experience in the areas of finance, operations, corporate strategy and change management. She has served as a financial executive for several large and small publicly traded companies where she earned a reputation as a strategic leader with strong execution and communications skills. In 2012, she launched a successful consulting practice providing financial and CFO services to both private and public companies. Ms. Delorme is a Certified Public Accountant and a graduate of McGill University.

“On behalf of the Board of Directors and Titan employees, I would like to thank Stephen for his dedication and contributions to Titan and wish him the best for a well-deserved retirement,” said David McNally. “I am excited for Monique’s promotion to CFO, having worked together with her during the transition period. Her experience and leadership skills, as well as her in-depth understanding of Titan’s financial operations, made her the obvious choice as our new CFO. I welcome Monique to the executive team and look forward to her continuing contributions to Titan.”