NORTHVILLE, Mich., July 17, 2018 (GLOBE NEWSWIRE) -- Gentherm (NASDAQ:THRM), the global market leader and developer of innovative thermal management technologies, today announced that James Paloyan has joined the Company as Senior Vice President and General Manager of its medical business.
In this position, Mr. Paloyan will lead the medical business to grow revenue and profitability as part of the company’s focused growth strategy. Mr. Paloyan will report to Phil Eyler, President and CEO of Gentherm.
“I am extremely pleased that Jim is joining our executive management team to lead and grow our medical business. He has a deep expertise across medical devices and pharmaceuticals with nearly 25 years of experience,” said Mr. Eyler. “Our medical business has tremendous opportunity to advance the patient thermal technologies, and I am confident that under Jim’s leadership we will accelerate our growth and continue to deliver meaningful solutions that will make a difference in the everyday lives of patients by enhancing outcomes, increasing efficiencies, and improving safety.”
Mr. Paloyan most recently served as Vice President and Global Platform Leader for BD, a global medical technology company. In this role he was responsible for managing a portfolio of infusion products, where he grew the business at double the market rate to approximately $500 million in revenue. Prior to that he held leadership positions at CareFusion, including Vice President of Infusion Disposable Sales & Marketing for the Americas, and Vice President of Strategy & Innovation. Before CareFusion, he held multiple assignments at Cardinal Health, a global healthcare services and products company, including Vice President of Innovation, Vice President of Marketing, Director of Marketing, and Senior Marketing Manager. Mr. Paloyan has also held management roles at Capgemini Consulting and Abbott Laboratories.
Mr. Paloyan earned a Bachelor of Science degree in Mechanical Engineering from Purdue University and a Master of Business Administration from the Kellogg School of Management at Northwestern University.
Gentherm (NASDAQ:THRM) is a global developer and marketer of innovative thermal management technologies for a broad range of heating and cooling and temperature control applications. Automotive products include variable temperature Climate Control Seats, heated automotive interior systems (including heated seats, steering wheels, armrests and other components), battery thermal management systems, cable systems and other electronic devices. Medical products include patient temperature management systems. The Company is also developing a number of new technologies and products that will help enable improvements to existing products and to create new product applications for existing and new markets. Gentherm has over 13,000 employees in facilities in the United States, Germany, Canada, China, Hungary, Japan, Korea, Macedonia, Malta, Mexico, United Kingdom, Ukraine, and Vietnam. For more information, go to www.gentherm.com.
Except for historical information contained herein, statements in this release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent Gentherm Incorporated's goals, beliefs, plans and expectations about its prospects for the future and other future events. The forward-looking statements included in this press release are made as of the date hereof or as of the date specified and are based on management's current expectations and beliefs. Such statements are subject to a number of important assumptions, risks, uncertainties and other factors that may cause the Company's actual performance to differ materially from that described in or indicated by the forward-looking statements. Those risks include, but are not limited to: the Company may be unable to develop new technologies or increase market share; changes in global, national, regional and/or local economic conditions and geopolitical climates may affect the Company’s financial performance; new competitors may arise; and other adverse conditions in the industries in which the Company operates may negatively affect its results. The foregoing risks should be read in conjunction with other cautionary statements included herein, as well as in the Company's annual report on Form 10-K for the year ended December 31, 2017 and subsequent reports filed with the Securities and Exchange Commission. Except as required by law, the Company expressly disclaims any obligation or undertaking to update any forward-looking statements to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.