Lifeward’s CFO to resign
Photo | Courtesy of Michael Lawless
Lifeward CFO Michael Lawless
After nearly three years as CFO of Lifeward, Michael Lawless will retire from his role at the Marlborough-based mobility device manufacturer in late June.
Effective June 27, Lawless will resign from his roles as CFO and principal financial officer due to personal reasons unrelated to Lifeward or its financial or accounting operations, according to a Tuesday filing with the U.S. Securities and Exchange Commission.
Lifeward’s plans to fill Lawless’ roles will be established in the coming weeks, Kathleen O’Donnell, Lifeward’s vice president of marketing & new business development, said in a Tuesday email to WBJ.
Lawless came to Lifeward on Sept. 19, 2022 after most recently serving as CFO consultant for Danforth Advisors in Waltham.
When Lawless joined Lifeward, the manufacturer was still operating under its former name ReWalk Robotics Ltd. After its August acquisition of AlterG, a California-based physical and neurological rehabilitation company, the company rebranded to Lifeward to better reflect its growth and evolution.
Lawless’ upcoming departure comes just after Lifeward named Mark Grant as its CEO in May following the February announcement that its long-term leader Larry Jasinski would retire in the second quarter.
In November, Lifeward announced it would close two U.S. facilities and lay off 15 employees in a move the company expected would save it $3 million in operating expenses. The decision, which completed its integration of AlterG, would improve Lifeward’s gross margins by approximately 2 percentage points and reduce its headcount by more than 35%, said the manufacturer.
Founded in 2001, Lifeward manufactures mobility devices and technologies for those with limited mobility and disabilities, including individuals who are paralyzed and stroke survivors.
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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