Effective Dec. 21, Malachi Mixon III, 74, will retire as Invacare Corp.’s executive director. He will continue as a non-employee member of the board until the company’s 2015 annual meeting, when he will be nominated for an additional term, after which he will reach the board’s mandatory retirement age of 75.
During the past 35 years, Mixon has taken Invacare from a domestic manufacturer and distributor of home and long-term care medical products to a global home medical device company that had annual net sales of $1.4 billion in 2013.
“I want to thank the many customers and shareholders who have supported Invacare over the years,” Mixon said in a press release. “I still have a passion for this incredible channel of healthcare and look forward to continuing to work with the management team and other members of the Board,” he added.