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Venus Concept Announces Senior Management Changes

1. President/COO departs effective March 28, 2025. Leadership transition is underway. 2. EVP Technical Operations retires; new sales and strategy leadership announced. 3. New appointments aim for global growth and streamlined decision-making.

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Why Bullish?

The leadership change is part of a clear strategic realignment. Historical reorgs have signaled improved performance when fresh management drives innovation.

How important is it?

Senior management transitions can influence investor sentiment and execution. The changes indicate a commitment to long-term growth, though effects may unfold gradually.

Why Long Term?

The restructuring is designed to support future product launches and sustainable growth. Similar strategic shifts have had lasting impacts in related sectors.

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TORONTO, Feb. 25, 2025 (GLOBE NEWSWIRE) -- Venus Concept Inc. (“Venus Concept” or the “Company”) (NASDAQ: VERO), a global medical aesthetic technology leader, today announced several changes to its senior leadership team. Dr. Hemanth Varghese, President and COO will depart the company to pursue other opportunities, effective March 28, 2025, and Bill McGrail, EVP, Technical Operations & Compliance, will retire, effective February 28, 2025. The Company expresses their gratitude for their contribution to Venus’ turnaround and drive for operational excellence globally. With the departures, Kirk Gunhus has been appointed Chief Revenue Officer, with global responsibility for Venus’ sales efforts. This includes oversight of the direct field force, distributor relationships and technical support for all customers. Ross Portaro has been appointed as EVP, Commercial Strategy and Head of Venus Hair, with a focus on providing commercial guidance and expanding our Venus Hair business in all jurisdictions. Venus Concept also welcomes back Melissa Kang, the Company’s former EVP, Global Marketing & Product Management, as Chief Product Officer. She will work on continuing the history of innovation at the Company, by guiding future product vision and roadmap. Michael Mandarello, the Company’s Chief Legal Officer, will take on an expanded role as Head of Strategy & Operations, to include oversight of Venus’ corporate strategy and operational execution. These changes are part of Venus Concept’s ongoing transformation efforts and are focused on establishing the optimal senior management structure for the next phase of its evolution. "This new management structure is designed to streamline decision making and best position the Company for its return to growth and its journey towards profitability. This reorganization demonstrates our commitment to building the right team to enable future growth and maximize upcoming new product launches. I look forward to working with Kirk, Ross, Melissa and Michael in their new roles,” said Rajiv De Silva, Chief Executive Officer of Venus Concept. Mr. De Silva went on to say, "We are grateful for the pivotal role Hemanth has played in executing the Company’s transformation efforts over the last two years and we wish him well in his future endeavors. We also congratulate Bill on his well-deserved retirement." About Venus Concept Venus Concept is an innovative global medical aesthetic technology leader with a broad product portfolio of minimally invasive and non-invasive medical aesthetic and hair restoration technologies and reaches over 60 countries and 12 direct markets. Venus Concept's product portfolio consists of aesthetic device platforms, including Venus Versa, Venus Versa PRO, Venus Legacy, Venus Velocity, Venus Viva, Venus Glow, Venus Bliss, Venus Bliss MAX, Venus Epileve, Venus Viva MD and AI.ME. Venus Concept's hair restoration systems include NeoGraft® and the ARTAS iX® Robotic Hair Restoration system. Venus Concept has been backed by leading healthcare industry growth equity investors including EW Healthcare Partners (formerly Essex Woodlands), HealthQuest Capital, Longitude Capital Management, Aperture Venture Partners, and Masters Special Situations.

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