NeuroPace Announces New CEO

NeuroPace, a medtech company focused on epilepsy, recently announced their current president and CEO, Michael Favet, will be stepping down effective July 10, 2023. As well as stepping away from the president and CEO titles, he will also no longer be a member of the company’s board of directors.

Favet has been in his current position for four years and led the company through the COVID-19 pandemic. Stepping down to pursue other opportunities, Favet has agreed to stay on as a consultant as the new president and CEO transitions into the job.

“On behalf of the NeuroPace board and employees, I would like to acknowledge and thank [Favet] for all that he has done for the company and for our patients,” said Frank Fischer, chairman of the board of directors of NeuroPace. “[His] contributions to the company have been substantial, guiding us through COVID, steering us through a successful IPO process, and driving our commercial progress. We wish [Favet] continued success in his future endeavors and are pleased he has agreed to stay on as consultant through the transition.”

The man the company has picked to take over the role is Joel Becker. Becker is a global medical device executive with over two decades of experience at companies including Viking North Venturers, the Cardiac Rhythm Management and Neuromodulation business for Integer, and St. Jude Medical.

“[Becker] brings a distinguished track record of successful commercial leadership and is highly qualified to lead NeuroPace as we move into our next phase of commercial expansion and corporate development,” Fischer said. “With over 25 years of diverse experience developing markets, driving growth and leading innovation in medical technologies, from product development to corporate strategy and commercial execution, [Becker] brings invaluable experience, skills and insight to NeuroPace at a time when we are poised to accelerate adoption of our highly differentiated RNS System.”

The leadership change comes after the company’s late-November 2022 announcement that it had treated its first patient with Lennox-Gastaut Syndrome for its feasibility investigational device exemption study using the RNS System.

Additionally, the CEO switch means NeuroPace joins multiple other companies over the past few years that have changed leadership, some after only been in their positions for a short time.

In 2022, Integra, Fluidigm, iCad, GE Healthcare, Insulet, ResMed, Staar Surgical Company, and Better Therapeutics all made changes to their leadership teams. Now in 2023, LivaNova and Illumina have followed the trend.