iCad announces CFO transition

iCad (Nasdaq:ICAD) announced today that its board of directors approved the appointment of Daniel Shea as interim CFO.

Shea takes over as interim CFO, effective immediately, while iCad also launched a search for a full-time CFO. Steve Sarno previously held the interim CFO role.

The company said in a news release that it aims to complete the search process in approximately 90 days. In addition to appointing Shea, iCad appointed Bill Keyes as its SVP, US commercial sales, AI.

“We are pleased to welcome Mr. Shea and Mr. Keyes to the iCAD senior leadership team,” said iCad President and CEO Stacey Stevens. “They each offer remarkable experiences and talents that are uniquely positioned to benefit the company during what is currently an exciting time of transformation as we shift to a more sustainable partnership-based and recurring revenue model for our AI business.

“Both Mr. Shea and Mr. Keyes offers impressive business acumen and proven track records of driving transformation and growth, and we are confident that they will be tremendous assets to the iCAD team.”

About iCad’s new personnel appointments

Shea joins the Nashua, New Hampshire-based company with more than 30 years in finance roles at private and public companies. He previously served as CFO at Pressure Biosciences, 4D Technologies and Easterly Partners Group.

“I am honored to accept this role as interim CFO and look forward to working with iCAD’s talented and passionate team, who are dedicated to revolutionizing the way cancer is detected and treated,” said Shea.

Keyes, a commercial leadership veteran, spent more than 35 years across a range of healthcare technology companies. His experience spans from entrepreneurial startup environments to Fortune 500 companies, iCad said.

His experience includes building and leading sales teams and driving growth through enterprise sales. He also holds software as a service (SaaS) expertise. Most recently, Keyes served as chief growth officer at i2i Population Health.

“iCAD offers a winning combination of leading-edge technologies and smart, talented staff,” said Keyes. “I am honored to accept this position and am excited to work with the team as we embark upon a new and exciting era of opportunity and progress as we enter 2023.”

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