Among the executive changes, CEO Mike Jackman will leave the company, effective immediately. Mike Lampron, the current chief operating officer (COO), will become Mach7's interim CEO.
In addition, Ravi Krishnan, Mach7's founder and chief strategy officer, will continue his role in product development and have his involvement with U.S. sales expanded to include the Asia-Pacific and Middle East business regions.
Eric Rice, chief technology officer (CTO), will move to a consulting role to focus on customer installations in 2019. The CTO position will be transitioned into more of a strategic product management and marketing role.
The restructuring will include new hires in Asia and the U.S. to focus on sales and support services, as well as the reallocation of resources across other geographic locations.
The company intends to reduce labor and overhead costs to improve cash flow to a breakeven point from operations over the next 12 months. It also plans to become more capital efficient, and better positioned to meet overall industry demand and customer needs.
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