TELA Bio (NASDAQ: TELA) has announced that Roberto Cuca, chief operating officer and chief financial officer (COO/CFO), will step down from the role effective today.
In a statement, Heather Getz, CEO of TELA, commented, “On behalf of the Board and management team, I would like to thank Roberto for his many contributions to TELA Bio over the past five years. Roberto has been instrumental in helping us scale operations in support of the Company’s long-term growth aspirations. We are deeply grateful for his commitment to the organization, and we wish him all the best in his future endeavors.”
Ms. Getz continued, “At the same time, we are implementing a broader initiative to strengthen our cost structure and position TELA Bio for long-term success. Over the last month, we have conducted a comprehensive review of our business and corporate infrastructure to identify opportunities to operate more efficiently. As a result, we have taken actions to reduce our annual operating expenses by approximately $17.0 million across the organization. These savings will be driven by a targeted headcount reduction of approximately 20% and the streamlining of external resources, while preserving our ability to invest in our core growth priorities and product innovation. We are focused on disciplined execution, strengthening the business, and creating a more efficient organization positioned to deliver sustainable long-term growth and expect this initiative to extend our cash runway into 2028.”
