AngioDynamics Formalizes CEO Transition as Clemmer Signs Retirement Agreement

February 3, 2026 · by Fintool Agent

ANGO

Angiodynamics+2.11% formalized CEO Jim Clemmer's departure today, filing an 8-K detailing a comprehensive Transition and Retirement Agreement that locks in succession terms and executive retention packages. 1 The 10-year CEO will exit by November 30, 2026—or sooner if a successor is appointed—marking the end of a transformational but financially turbulent tenure.

ANGO shares closed at $10.64 today, up 2.1% in an otherwise positive session, but remain down 22% since the January 6 retirement announcement sent the stock tumbling 9% in a single day.

The Deal Terms

The formal retirement agreement, signed February 3, 2026, establishes clear parameters for Clemmer's exit and provides substantial protections for both sides: 2

Retirement Timeline:

• Planned retirement date: November 30, 2026, or upon appointment of successor 3
• Monthly extensions possible by mutual agreement until successor found 4
• Board search committee already engaged with executive search firm 5

Clemmer's Compensation:

• Continues full salary and benefits through transition period 6
• Eligible for FY26 and pro-rated FY27 short-term incentive payments 7
• All equity awards continue vesting through consulting/director service 8
• 18 months of COBRA coverage post-retirement 9
• Stock options and RSUs fully vest upon separation from service 10

Restrictive Covenants:

• Non-compete period extended to 24 months (up from 12 months in original employment agreement) 11
• Post-employment consulting arrangement expected for one year following retirement 12

Executive Retention Packages

The board approved retention agreements for the entire executive leadership team—a clear signal of concern about talent flight during the leadership vacuum: 13

Executives must remain employed through the earlier of (1) six months after a new CEO starts, or (2) June 1, 2027, to receive the full bonus. 19

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The Transformation Legacy

Clemmer joined AngioDynamics in April 2016 with a mandate to transform the Latham, NY-based medical device company. Ten years later, the company he's leaving looks fundamentally different from the one he inherited.

Portfolio Rationalization:

• Sold Dialysis and BioSentry portfolios to Merit Medical for $100 million (June 2023)
• Divested NAMIC Fluid Management to Medline Industries
• Sold PICC and Midline portfolios to Spectrum Vascular for $45 million (February 2024)
• Discontinued radiofrequency ablation and Syntrax products
• Transitioned to fully outsourced manufacturing model

Med Tech Buildout:

• Auryon peripheral atherectomy: 18 consecutive quarters of double-digit growth 6
• Mechanical thrombectomy (AlphaVac/AngioVac): +40% YoY in Q1 FY26 7
• NanoKnife: CPT code for prostate procedures went live January 1, 2026 8
• Named to TIME's 2025 Best Innovations List 9

The strategic pivot worked operationally—Med Tech now delivers 26% quarterly growth and targets a $10+ billion addressable market. 10

Financial Performance Under Clemmer

Despite the transformation progress, Clemmer leaves with a complicated financial scorecard:

*Values retrieved from S&P Global.

The profitability challenge persists. AngioDynamics remains unprofitable, though losses are narrowing. The company raised FY26 guidance to $312-314 million in revenue and $6-10 million in adjusted EBITDA. 17

The stock tells a harder story: ANGO traded at ~$12.25 when Clemmer joined in 2016 and sits at $10.64 today—a 13% decline over his tenure, dramatically underperforming healthcare benchmarks. The 52-week range of $8.27 to $13.99 reflects persistent volatility.

Insider Activity: Clemmer Bought the Dip

Notably, Clemmer made an open-market purchase of 10,000 shares at $11.15 on October 9, 2025—just three months before announcing his retirement. This brought his holdings to 882,529 shares (approximately $9.4 million at current prices).

The purchase came during a period when the stock was trading near its lows, and before any public knowledge of his retirement plans.

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What the Market Is Pricing

The 22% decline since the retirement announcement suggests investors are pricing in meaningful execution risk:

1. Succession uncertainty: No internal candidate has been named as heir apparent. The board is conducting an external search.

2. Transformation inflection point: AngioDynamics is approaching profitability just as its architect departs. Will a new CEO maintain strategic continuity or pivot again?

3. Small-cap vulnerability: At $438 million market cap, the company could become an acquisition target—or face funding challenges if growth stalls.

4. Key product momentum: Auryon and AlphaVac are performing well, but early-stage platforms require sustained commercial investment that a new CEO might redirect.

Forward Estimates

Analysts expect continued improvement but remain cautious:

*Values retrieved from S&P Global.

The path to profitability extends into fiscal 2027—which means the new CEO will inherit a company still in transition mode, not yet on stable footing.

What to Watch

Near-term catalysts:

• Q3 FY26 earnings (April 2026): First full quarter with NanoKnife prostate CPT code in effect
• CEO search progress: Any indication of timeline or internal vs. external preference
• AlphaReturn IDE study enrollment: Key catalyst for thrombectomy franchise expansion 1

Key risks:

• Extended search timeline pushing beyond November 2026 deadline
• Executive departures despite retention packages
• Strategic pivot by incoming CEO disrupting product investment priorities

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The Bottom Line

Jim Clemmer successfully transformed AngioDynamics from a diversified medical device company into a focused med-tech platform—but leaves before proving the strategy can generate consistent profits. The formal retirement agreement filed today provides an orderly transition framework, but the 22% stock decline since his announcement reflects real uncertainty about whether the next leader will maintain momentum or chart a different course.

For investors, this is a classic transition risk scenario: a company with improving fundamentals but unclear leadership continuity, trading at depressed valuations that could prove either a bargain or a value trap depending on who takes the helm.

Related: Angiodynamics Company Profile+2.11%