Binovi Announces Board And Management Changes As Company Shifts From ‘Technology Development To Commercial Growth’

Binovi Announces Board And Management Changes As Company Shifts From ‘Technology Development To Commercial Growth’

July 16, 2021

Binovi Technologies Corp. recently announced that Tania Archer has been appointed as interim CEO of the company, succeeding Adam Cegielski, who stepped down from his positions as CEO and board member.

Cegielski has agreed to stay involved with the company as an advisor to ensure a smooth transition period. The moves were effective immediately, according to the announcement. Additionally, Sam Mithani, CTO, has stepped down from his position as a board member.

Dr. Jason Dyck, currently on the company’s scientific advisory board, and Archer have been appointed to the company’s board.

The moves follow the company’s announcement on June 30 that it was unable to file its audited annual financial statements for the year ended Feb. 28, 2021, as required under applicable securities laws. The company now expects to file the documents on or before July 27, 2021.

Binovi is a neuro-visual performance platform designed to test, analyze, track, and report on individual cognitive performance.

Binovi combines hardware, software, specialized expert knowledge, and unique data insights to deliver customized, one-on-one training and learning protocols for sports performance testing and training.

“Since inception, Adam and Sam have worked hard to develop an integrated technology portfolio to put Binovi on pole position in the burgeoning vision therapy space,” board chairman Terry Booth said in the announcement.

“With this herculean effort behind us and the company’s solutions gaining significant traction across their target markets, it was felt that a leadership change was required to guide Binovi as it expands its commercial operations.”

Booth added, “Tania, who has been with the company for a little over two years now, has proven herself as an exceptional talent in terms of sales, marketing, operational leadership, and we are very pleased she has agreed to take on the role as interim CEO.

The board will now initiate the process toward appointing a permanent CEO, as well as implement certain changes we consider as key to strengthen our governance.”

Archer also holds the appointment of interim chief operating officer, managing the day-to-day operations of Binovi, including global marketing and strategic partnership oversight.

Archer joined the company in 2019. Earlier, she held leadership roles within the Archer Investment Group, Waddell and Reed, SwimEx and CBS Outdoor, in which she was integral in the activation of initiatives designed to drive growth.

Among her contributions to Binovi, Archer has secured partnerships with the Dallas Stars (NHL), Sporting Kanas City (MLS), Kansas Jayhawks football (NCAA), Eli Wilson Goaltending (hockey), Oklahoma State baseball (NCAA) and the Babe Ruth League on Binovi’s behalf.

”I am honored and excited to take on this new role and help guide the company as we accelerate growth and expansion,” she said. “Binovi is uniquely positioned to capitalize on numerous revenue generating opportunities in a market where momentum is driving a rapidly growing interest in vision therapy solutions.”

Booth said he will work closely with the board and management team to “complete our internal reorganization and more closely align our structure and staffing with our initiatives in optometry, sports and education, with a laser focus on accelerating revenue growth.”