NeoGenomics CEO Mallon steps down; Q1 revenue to miss guidance; 2022 outlook withdrawn

NEOGENOMICS INC

CEO Mark Mallon steps down effective immediately; Board appoints Lynn Tetrault as Executive Chair, forms Office of the CEO with three executives.
Q1 2022 revenue expected below prior guidance of $118-120M; EBITDA below guidance of ($15)-($12)M, primarily due to higher Clinical Services COGS.
Company withdraws full-year 2022 financial guidance issued Feb 23, 2022; will report Q1 results on Apr 27.
Separation agreement: Mallon receives $775K base salary + $775K target bonus, plus accelerated vesting of certain equity awards.
Board retains Russell Reynolds to conduct CEO search.

item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Mark W. Mallon

Chief Executive Officer

NEO · NEOGENOMICS INC

Effective: 2022-03-28
Filed: March 28, 2022, 7:59 PM ET

On March 27, 2022, Mark W. Mallon, Chief Executive Officer (“CEO”) and a member of the Board of Directors (the “Board”) of NeoGenomics, Inc. (the “Company”), stepped down from his positions as CEO and director, effective as of March 28, 2022.

Role change

Lynn A. Tetrault

Executive Chair

NEO · NEOGENOMICS INC

Effective: 2022-03-28
Filed: March 28, 2022, 7:59 PM ET

the Board appointed Lynn A. Tetrault, Esq. the Company’s non-executive Chair of the Board and Chair of the Culture and Compensation Committee, to serve as Executive Chair and the Company’s principal executive officer.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Mark W. Mallon departed as Chief Executive Officer at NEOGENOMICS INC.

Action: stepped down
Role: Chief Executive Officer

Exact text from the filing

On March 27, 2022, Mark W. Mallon, Chief Executive Officer (“CEO”) and a member of the Board of Directors (the “Board”) of NeoGenomics, Inc. (the “Company”), stepped down from his positions as CEO and director, effective as of March 28, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Lynn A. Tetrault was appointed as Executive Chair at NEOGENOMICS INC.

Action: appointed
Role: Executive Chair

Exact text from the filing

the Board appointed Lynn A. Tetrault, Esq. the Company’s non-executive Chair of the Board and Chair of the Culture and Compensation Committee, to serve as Executive Chair and the Company’s principal executive officer.

View on SEC.gov

NEOGENOMICS INC filing history →

Source: SEC EDGAR

accession 0001193125-22-086679

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