Lifeward chief accounting officer to become CFO
Photo I Courtesy of Lifeward
Almog Adar, CFO at Lifeward
Following its new CEO taking over for a long-time leader, Lifeward had a second executive join its C-suite transition in two months as the Marlborough-based medical device has selected its new CFO.
Almog Adar assumed the firm’s CFO role on Aug. 1, shifting from his most recent positions as Lifeward’s vice president of finance and chief accounting officer, roles which he held since December 2022 and March 2022, respectively, according to a Wednesday filing with the U.S. Securities and Exchange Commission.
Lifeward does not intend to replace its chief accounting officer role at this time, Kathleen O’Donnell, the company’s vice president of marketing & new business development, said in an email to WBJ.
"I am thrilled to welcome Almog to the executive leadership team. He has been an invaluable leader within our finance team and brings thoughtful leadership and a strong commitment to supporting Lifeward’s growth,” Mark Grant, Lifeward’s president and CFO, said in a Wednesday press release.
Adar’s appointment comes shortly after Grant took over Lifeward’s leading positions after the company’s long-term CEO announced his upcoming retirement.
Adar succeeds Lifeward’s former CFO Michael Lawless, who stepped down from the role on June 27 for personal reasons.
Serving as CFO marks Adar’s fourth position with Lifeward after joining the company in 2020 as its director of finance and corporate financial controller.
“I am honored to step into the role of chief financial officer at this pivotal moment for Lifeward,” Adar said in the release. “We have a tremendous opportunity ahead to build on our strengths, sharpen our execution, and accelerate growth. I am committed to working closely with our leadership team to deliver a clear, disciplined strategy, strengthen our financial foundation, and create lasting value for our patients, customers, and shareholders.”
Previously, Adar worked as controller for recycling conglomerate Infinya and as assistant controller for apparel manufacturer Delta Galil Industries, both based in Israel.
A certified public accountant, Adar graduated from The Open University of Israel with his bachelor’s degree in accounting and economics.
Founded in 2001, Lifeward creates mobility products for those living with physical limitations and disabilities, including exoskeletons, cycling machines, and anti-gravity treadmills. The company was formerly named ReWalk Robotics.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare and diversity, equity, and inclusion industries.
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