Avanos Medical Announces Appointment of Scott Galovan as Senior Vice President, Chief Financial Officer; David Pacitti Appointed to Board of Directors

Rhea-AI Summary

Avanos Medical (NYSE:AVNS) has announced two significant leadership changes. Scott Galovan has been appointed as Senior Vice President and Chief Financial Officer, effective August 1, 2025. Galovan, who previously served as SVP of strategy and corporate development at Avanos, brings 12 years of company experience and a strong background in acquisitions and divestitures.

Additionally, CEO David Pacitti has been appointed to the company's Board of Directors, also effective August 1, 2025. In his CFO role, Galovan will oversee global finance, treasury, tax, corporate development, investor relations, accounting, and the Enterprise Program Management Office, reporting directly to Pacitti.

Positive

• Internal promotion demonstrates strong succession planning and stability
• New CFO brings 12 years of company experience and proven M&A track record
• CEO joining board strengthens alignment between management and directors

Negative

• Potential concentration of power with CEO also serving as board member

News Market Reaction – AVNS

-12.09% 1.7x vol

41 alerts

-12.09% News Effect

-12.7% Trough in 5 hr 13 min

-$68M Valuation Impact

$492M Market Cap

1.7x Rel. Volume

On the day this news was published, AVNS declined 12.09%, reflecting a significant negative market reaction. Argus tracked a trough of -12.7% from its starting point during tracking. Our momentum scanner triggered 41 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $68M from the company's valuation, bringing the market cap to $492M at that time. Trading volume was above average at 1.7x the daily average, suggesting increased trading activity.

Data tracked by StockTitan Argus on the day of publication.

ALPHARETTA, Ga., Aug. 5, 2025 /PRNewswire/ -- Avanos Medical, Inc. (NYSE: AVNS), a leading medical technology company, today announced the appointment of Scott Galovan as its new senior vice president, chief financial officer, effective Aug. 1, 2025.

Galovan most recently served as Avanos' senior vice president of strategy and corporate development. His background with the company spans 12 years and is highlighted by a proven track record of leading a number of acquisition and divestiture initiatives. Prior to Avanos, he spent 10 years in a variety of strategy, finance, and M&A roles for Newell Brands, Equity Pacific Partners, and Intel Capital.

As CFO, Galovan will oversee the company's global finance, treasury, tax, corporate development, investor relations, and accounting groups, as well as its Enterprise Program Management Office. He will report directly to David Pacitti, Avanos chief executive officer.

"Scott brings a growth-oriented mindset to the CFO role, which will be critical as we look to build on the significant progress we've made with our transformation efforts," said Pacitti. "His ability to drive strategic partnerships, coupled with his deep understanding of market dynamics, will help to shape our next chapter, enhance our long-term planning, and maintain a sharp focus on shareholder value."

Galovan earned a bachelor's degree from BYU and a master's of business administration from the University of California at Los Angeles, where he was a Venture Fellow.

The Company also announced the appointment of Pacitti as a member of its board of directors, effective Aug. 1, 2025.

"On behalf of the entire board, I am pleased to welcome Dave to the Avanos board," said Gary Blackford, Avanos board chair. "His extensive industry experience and leadership will further strengthen the Company's vision of being the best at getting patients back to the things that matter."

About Avanos Medical
Avanos Medical (NYSE: AVNS) is a medical technology company focused on delivering clinically superior medical device solutions that will help patients get back to the things that matter. Headquartered in Alpharetta, Georgia, Avanos is committed to addressing some of today's most important healthcare needs, including providing a vital lifeline for nutrition to patients from hospital to home, and reducing the use of opioids while helping patients move from surgery to recovery. Avanos develops, manufactures and markets its recognized brands globally and holds leading market positions in multiple product categories. For more information, visit www.avanos.com and follow Avanos Medical on X (@AvanosMedical), LinkedIn and Facebook.

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SOURCE Avanos Medical

FAQ

Who is the new CFO of Avanos Medical (NYSE:AVNS)?

Scott Galovan has been appointed as Senior Vice President and Chief Financial Officer of Avanos Medical, effective August 1, 2025. He previously served as the company's SVP of strategy and corporate development.

What is Scott Galovan's background at Avanos Medical?

Scott Galovan has 12 years of experience at Avanos Medical, with a proven track record in leading acquisition and divestiture initiatives. Before Avanos, he worked at Newell Brands, Equity Pacific Partners, and Intel Capital.

What are Scott Galovan's responsibilities as Avanos Medical's new CFO?

As CFO, Galovan will oversee global finance, treasury, tax, corporate development, investor relations, accounting groups, and the Enterprise Program Management Office. He reports directly to CEO David Pacitti.

When did David Pacitti join Avanos Medical's board of directors?

David Pacitti was appointed to Avanos Medical's board of directors effective August 1, 2025, while maintaining his position as CEO.

What educational background does Scott Galovan have?

Scott Galovan holds a bachelor's degree from BYU and an MBA from the University of California at Los Angeles, where he was a Venture Fellow.