New Nuwellis (NASDAQ: NUWE) CEO Mike McCormick to replace John Erb on June 30, 2026
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Nuwellis, Inc. announced a leadership change, with John L. Erb resigning as Chief Executive Officer effective June 30, 2026, while continuing as Chairman of the Board. The company states his resignation is not due to any dispute or disagreement over operations, policies, or practices.
Effective the same date, the board appointed Michael McCormick, age 65, as Chief Executive Officer, President, and director. He has consulted for Nuwellis since 2025 and previously served on its board. Under a new Employment Agreement, McCormick will receive a base salary of $431,100 and be eligible for annual incentive compensation targeted at 65% of base salary, plus a one-time equity grant to be determined.
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Insights
Nuwellis discloses an orderly CEO transition with defined pay terms.
Nuwellis is transitioning from long-time leader John Erb to Michael McCormick as CEO and President effective June 30, 2026, while Erb remains Chairman. The company explicitly notes Erb’s resignation is not tied to disagreements, signaling a planned succession rather than a crisis departure.
McCormick brings over three decades of medical device leadership and prior involvement with the company as a director and consultant, which may help continuity. His Employment Agreement includes an annual base salary of $431,100, a target bonus of 65% of salary, and a one-year initial term, suggesting a structured but flexible arrangement. Overall, this appears as a governance event without immediate quantified financial impact.
8-K Event Classification
3 items: 5.02, 7.01, 9.01
3 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Erb CEO resignation effective date: June 30, 2026
McCormick CEO start date: June 30, 2026
McCormick base salary: $431,100 per year
+3 more
6 metrics
Erb CEO resignation effective date
June 30, 2026
Effective date of John L. Erb’s resignation as CEO
McCormick CEO start date
June 30, 2026
Effective date of Mike McCormick becoming CEO, President, and director
McCormick base salary
$431,100 per year
Annual base salary from and after June 30, 2026
Target bonus percentage
65% of base salary
Annual incentive compensation target, prorated for 2026
Employment Agreement term
12 months
Initial term starting June 30, 2026, extendable by mutual agreement
McCormick age
65 years
Age of incoming Chief Executive Officer
Key Terms
Employment Agreement, annual incentive compensation, Chairman of the Board, forward-looking statements, +1 more
5 terms
Employment Agreement financial
"In connection with the appointment of Mr. McCormick... the Company and Mr. McCormick will enter into an employment agreement"
annual incentive compensation financial
"eligible for annual incentive compensation targeted at 65% of his base salary"
Chairman of the Board financial
"will continue to serve as Chairman of the Company’s board of directors"
Chairman of the board is the person who leads a company’s board of directors, setting meeting agendas, guiding discussions and ensuring the board supervises management’s strategy and risk decisions. Investors care because the chair’s leadership and style influence how well shareholder interests are protected, how quickly strategic choices are made, and the company’s overall accountability—like a team captain shaping group performance.
forward-looking statements regulatory
"Certain statements in this release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Private Securities Litigation Reform Act of 1995 regulatory
"forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995"
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 16, 2026
(Exact Name of Registrant as Specified in its Charter)
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(952 ) 345-4200
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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registered
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this
chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new
or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 5.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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Departure of Chief Executive Officer
On June 16, 2026, Nuwellis, Inc. (the “Company”) announced that John L. Erb resigned from
the Company, effective June 30, 2026 (“Resignation Date”). Mr. Erb’s resignation was not the result of any dispute or disagreement with the Company or the Board on any matter relating to
the Company’s operations, policies or practices. Mr. Erb will continue to serve as Chairman of the Company’s board of directors (the “Board”).
Appointment Chief Executive Officer
Effective as of June 30, 2026, the Board appointed Michael McCormick as the Company’s Chief Executive Officer and President and member of the Company’s
board of directors. Mr. McCormick will join the Board as of June 30, 2026.
Mr. McCormick, age 65, has provided consulting services to the Company since September 2025, including serving as Chief Commercial Officer under a
consulting arrangement. He previously served as a director of the Company from June 2023 to January 2026. Mr. McCormick is a seasoned executive with more than 30 years of experience leading medical device companies and serving on the boards of
private and publicly traded life sciences companies. Since 2023, Mr. McCormick has served as President and Chief Executive Officer of CorRen Medical, Inc., a private medical technology company focused on improving the diagnosis and management of
peripheral artery disease, and where he will transition to Executive Chairman effective June 30, 2026. From 2010 to 2023, Mr. McCormick served as Chief Executive Officer of Osprey Medical (ASX: OSP), a commercial-stage medical device company
focused on technologies designed to reduce contrast-induced acute kidney injury. From 2003 to 2008, Mr. McCormick served as Chief Executive Officer of Anulex Technologies, Inc., a private company that was subsequently acquired by Boston Scientific.
Prior to that, he served as President of Centerpulse Spine-Tech and was involved in its successful acquisition by Zimmer in 2003. Earlier in his career, Mr. McCormick held sales and sales management positions with Boston Scientific Scimed and
Baxter Healthcare. Mr. McCormick also serves on various private company boards, including as Executive Chairman of NephroCor Medical, Inc., Chairman of AcQumen Medical, Inc., and as an independent director of Formae, Inc. and Sharp Biomedical, Inc.
He previously served as Chairman of OrthoCor Medical, a private company that was acquired in 2019. Mr. McCormick received a Bachelor of Business Administration in Business Management from The University of Texas at Austin.
In connection with the appointment of Mr. McCormick as President and Chief Executive Officer of the Company, the Company and Mr. McCormick will enter
into an employment agreement, which shall be effective as of June 30, 2026, concerning Mr. McCormick’s appointment (the “Employment Agreement”). The Employment Agreement shall have a term
(the “Term”) of twelve (12) months beginning on June 30, 2026 and may be extended upon mutual agreement between Mr. McCormick and the Company.
The Employment Agreement will entitle Mr. McCormick to an annual base salary of $431,100 from and after June 30, 2026, reviewed annually. Mr. McCormick
will also be eligible for annual incentive compensation targeted at 65% of his base salary, which will be prorated for 2026. The Employment Agreement will also entitle Mr. McCormick to a one-time equity grant within 90 days of joining the Company,
the terms of which are to be determined by the Compensation Committee and the Board after its consultation with a third-party compensation consultant. The information required by Item 502(c)(3) of Form 8-K has not been determined as of the date of
this report. The Company intends to file an amendment to this Current Report on Form 8-K within four business days after such information is determined or becomes available.
Except as described above, there are no arrangements or understandings between Mr. McCormick and any other persons pursuant to which Mr. McCormick was
named President and Chief Executive Officer of the Company. Mr. McCormick does not have any family relationship with any of the Company’s directors or executive officers or any persons nominated or chosen by the Company to be a director or
executive officer. Mr. McCormick does not have any direct or indirect material interest in any transaction or proposed transaction required to be reported under Item 404(a) of Regulation S-K.
The foregoing description of the Employment Agreement is qualified in its entirety by reference to the complete text of the Employment Agreement.
In connection with the appointment of Mr. McCormick to the Board, the Board increased the size of the Board from five members to six members, effective
as of June 30, 2026.
| Item 7.01 |
Regulation FD Disclosure.
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On June 16, 2026, the Company issued a press release announcing the changes to the leadership team. A copy of the press release is attached hereto as
Exhibit 99.1 and is incorporated into this Item 7.01 by reference.
The information in Item 7.01 of this Current Report on Form 8-K and Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed
“filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed
incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
| Item 9.01 |
Exhibits.
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(d) Exhibits
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Exhibit Number
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Description
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99.1
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Company Press Release, dated June 16, 2026
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104
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Cover Page Interactive Data File (embedded within Inline XBRL document).
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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Date: June 17, 2026
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NUWELLIS, INC.
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By:
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/s/ John L. Erb
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Name:
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John L. Erb
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Title:
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President and Chief Executive Officer
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Exhibit 99.1
Source: Nuwellis,
Inc.
June 16, 2026 08:30 ET
Nuwellis Appoints Mike McCormick as Chief Executive Officer
Transition to become effective June 30, 2026; current CEO John Erb to continue as Chairman of the Board
MINNEAPOLIS, June 16, 2026 (GLOBE NEWSWIRE) -- Nuwellis, Inc. (Nasdaq: NUWE), a medical technology company committed to delivering solutions for
patients with cardiorenal conditions, announces the appointment of Mike McCormick as Chief Executive Officer, effective June 30, 2026. John Erb, who currently serves as President, CEO, and Chairman of the Board, will transition from his executive
leadership role and continue serving as Chairman of the Board.
"Mike brings an exceptional combination of operational leadership, commercial expertise, and strategic vision," said Erb. "His deep understanding of
the medical device industry and proven track record of building and scaling innovative healthcare companies make him uniquely qualified to lead Nuwellis into its next phase of growth. I look forward to supporting Mike and the management team as
Chairman of the Board."
"Nuwellis has an important opportunity to expand the role of precision fluid management in cardiorenal care," said McCormick. "I am excited to work
with our employees, leadership team, Board, clinicians, and customers to build on the Company's momentum, strengthen commercial execution, advance our pipeline, and create value for patients, healthcare providers, and shareholders."
McCormick is a seasoned medical technology executive with more than three decades of leadership experience spanning product development,
commercialization, corporate strategy, and value creation. He served as a Board Member and Independent Director of Nuwellis from June 2023 through January 2026. Throughout his career, McCormick has founded, scaled, and led both public and private
medical technology companies, creating value through successful commercialization, operational execution, capital formation, and strategic transactions across multiple healthcare markets.
About Nuwellis
Nuwellis, Inc. (Nasdaq: NUWE) is a medical technology company committed to delivering solutions for patients with cardiorenal conditions. The Company
develops solutions designed to support patient care through monitoring, therapy, and data-informed clinical decision-making across acute and chronic care settings. Nuwellis' portfolio includes commercially available and development- stage technologies addressing complex cardiorena I conditions, with a focus on safety, precision, and sca la bility across patient populations. For more information,
visit www.nuwellis.com.
Forward-Looking Statements
Certain statements in this release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act
of 1995, including without limitation, statements regarding the new market opportunities and anticipated growth in 2026 and beyond. Forward-looking statements are predictions, projections and other statements about future events that are based on
current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this release, including, without limitation,
those risks associated with our ability to execute on our commercialization strategy, the possibility that we may be unable to raise sufficient funds necessary for our anticipated operations, our post-market clinical data collection activities,
benefits of our products to patients, our expectations with respect to product development and commercialization efforts, our ability to increase market and physician acceptance of our products, potentially competitive product offerings,
intellectual property protection, our ability to integrate acquired businesses, our expectations regarding anticipated synergies with and benefits from acquired businesses, and other risks and uncertainties described in our filings with the SEC.
Forward-looking statements speak only as of the date when made. Nuwellis does not assume any obligation to publicly update or revise any forward-looking statements, whether due to new information, future events or otherwise.
For further information, please contact:
Investor Relations:
ir@nuwellis.com
Media Contact:
CORE PR
media@nuwellis.com
FAQ
What leadership change did Nuwellis (NUWE) announce in this 8-K?
Nuwellis announced that John L. Erb will resign as Chief Executive Officer effective June 30, 2026, but remain Chairman of the Board. Michael McCormick will become Chief Executive Officer, President, and a board member on the same date, formalizing an internal-style succession.
Who is Mike McCormick, the new Nuwellis (NUWE) CEO?
Mike McCormick is a veteran medical technology executive with over 30 years of industry experience. He has consulted for Nuwellis since 2025 and previously served as a director, and has held multiple CEO roles at medical device and technology companies across different healthcare markets.
When does the Nuwellis CEO transition from John Erb to Mike McCormick take effect?
The CEO transition takes effect on June 30, 2026. On that date, John Erb’s resignation as Chief Executive Officer becomes effective and Mike McCormick becomes Chief Executive Officer, President, and a director, while Erb continues serving as Chairman of the Board for continuity.
What are the key compensation terms for Nuwellis CEO Mike McCormick?
Mike McCormick’s Employment Agreement provides an annual base salary of $431,100 from June 30, 2026, reviewed annually. He is also eligible for annual incentive compensation targeted at 65% of base salary and will receive a one-time equity grant to be set by the board and its compensation consultant.
How long is Mike McCormick’s initial Employment Agreement with Nuwellis (NUWE)?
The Employment Agreement has an initial term of twelve months beginning June 30, 2026. It may be extended upon mutual agreement between Mike McCormick and Nuwellis, giving both the company and the executive flexibility after the first year of his leadership period.