Executive Team

Robert Storey
President & CEO

Mr. Storey serves as President & CEO of Vapotherm, Inc., a role he has held since 1999.

Following his graduation in 1980 from the University of Arkansas with degrees in Chemical Engineering and Chemistry, Mr. Storey joined Exxon Chemical Company's Plastics Technology Division in Baytown, Texas. After several years in process and catalysis research, he moved into the New Business Development group at Exxon Chemical's headquarters in Houston where he was involved in business planning and mergers/acquisitions for the company's engineering plastics businesses. During this time, he held positions in Exxon Corporate Controller's, was Director of Sales & Marketing for an engineering plastics acquisition, and was the leader for the formation and start-up of Exxon's international joint venture with Mitsubishi Petrochemical, Mytex Polymers.

In 1994, he accepted an offer to become Vice President & General Manager of a privately held engineering plastics company, Bay Resins in Maryland, in order to assist them in preparing the company for sale. Following the successful sale of the company to Clariant Corporation of Switzerland, the world's largest specialty chemical company, he became Clariant's Business Unit Vice President for their Performance Plastics Division for a two year period. He invested in and joined Vapotherm in 1999.

In 2006, Mr. Storey was inducted into the Arkansas Academy of Chemical Engineers. He also sits on the Boards of the Maryland Upper Shore Manufacturer's Business Council and the charitable organization, The Salt Street Foundation. During 2007/2008, he serves on Chesapeake College's Presidential Search Advisory Committee.

William Niland
Chief Business Development Officer

Mr. Niland serves as the Chair of the Board of Directors and as the Chief Business Development Officer, responsible for exploring new business and application areas for the Company's technology.

His 20+ year career has been spent exclusively in the healthcare industry. He spent the first 10 years with Mediq/PRN, Becton-Dickinson, and Oxygen Enrichment Company where he held sales and marketing positions. Subsequently, Mr. Niland started and successfully managed two healthcare companies. His first venture, Mobile Metabolic Associates ("MMA"), provided bedside nutritional assessments on nursing home patients utilizing sophisticated metabolic monitoring equipment. One of the first to offer such services, MMA was sold by Mr. Niland to Mediq Mobile X-ray during its second year of operation. In 1992, Mr. Niland founded Advanced Sleep Technologies, which evolved into National Sleep Technologies ("NST"), at the time, the largest sleep diagnostic and therapy company in the United States. He managed, and raised capital for NST's growth to over $12 million in annual sales through internal means and 10 completed acquisitions. NST was eventually sold to Vital Signs, Inc. In 1997, Mr. Niland and his partner Dr. Cirksena acquired the rights to the Vapotherm™ technology and co-founded the Company.

Mr. Niland holds a Bachelors degree in Law/Justice from Rowan University Glassboro, NJ.

Kevin Thibodeau
Executive Vice President and Chief Marketing Officer

Mr. Thibodeau serves as Executive Vice President and Chief Marketing Officer for Vapotherm and is responsible for global revenue, marketing communications and education functions.

Mr. Thibodeau has over 20 years of public and private company experience in sales, marketing and general management including sales management, distribution channel management, public relations, marketing communications and customer service. He began his career in the medical publishing industry, where he spent 10 years with Williams and Wilkins, a publicly traded world leader in health science information in sales and marketing management functions. From 1996 through 1998, he served as Vice President of Sales and Marketing and was part of the executive team responsible for the successful sale of the Company to Dutch publishing conglomerate, Wolters Kluwer, Inc. He joined Sylvan Learning Systems spinout Caliber Learning Systems in 1998 where he was an officer and executive in charge of the Content Services Business Unit. In 2002, Mr. Thibodeau joined elearning software start-up, iLearning, Inc in Baltimore Maryland as Executive Vice President of Sales and Marketing. In 2003, he became President of iLearning and was instrumental in the Company's sale to Educational Testing Services of Princeton, NJ, where he remained until joining Vapotherm in March, 2004.

Mr. Thibodeau is a Suma Cum Laude graduate of Providence College.

Larry Grant
Executive Vice President and Chief Financial Officer

Mr. Grant serves as Executive Vice President & CFO of Vapotherm, Inc., a role he assumed on a permanent basis in 2007. He first began working as interim CFO with the Company in early 2006 under a contract services arrangement with Tatum, LLC ("Tatum"), an executive services firm in which Mr. Grant was a CFO Partner.

Following his graduation in 1974 from Iowa State University with a degree in Industrial Administration (Accounting), Mr. Grant joined the audit staff of Peat Marwick Mitchell & Co. (now KPMG LLP) in Des Moines, Iowa. From 1979 until 1981, he was an audit manager with Fox & Company (since then acquired by Grant Thornton LLP) in Denver, Colorado. During his public accounting career he managed audits in a variety of industry segments (both public & private), trained other staff in computer auditing techniques and requirements, and developed the policies and procedures for a national computer audit capability of Fox & Company.

From 1981-1984, Mr. Grant was VP Finance for Mitral Medical International, Inc., a publicly-held medical device company based in Denver, which developed and sold a variety of implantable heart valves for international markets, including Europe, Canada and Australia.

Commencing in 1984 and through 2007, he provided financial and operational leadership to companies in rapid transition, mainly on an interim/contract basis. Mr. Grant's focus was to provide CFO, strategic planning, and on occasion restructuring services, most often for venture-backed companies in a variety of industry segments, including medical devices, life sciences/biological controls, pharmaceutical manufacturing, pharmacy services, telecom and IT (including software, technology platform and government contract reselling). He has raised and participated in raising money in a variety of structured arrangements, including VC rounds, strategic partner transactions, IP litigation settlements, PIPES and secondary public offerings. During this period his more notable experience included serving as acting CFO of IMCOR Pharmaceutical, Co. (public), Division Chief Operating Officer for the Technology Services Division of BTG, Inc. (public), EVP/CFO of SymRx, Inc. (private VC-backed), and as a financial consultant to Voxiva, Inc. (private early stage/angel-backed). In addition, he served as a financial consultant to Oxford Bioscience Partners of Boston, MA, among others.

Mr. Grant is a CPA and a native of Iowa.

Board of Directors

Neal Armstrong
Outside Director

Mr. Armstrong served as Vice President, Chief Financial Officer, Secretary and Treasurer of Aspect Medical Systems, Inc., a developer and manufacturer of an anesthesia monitoring system, from 1996 to 2005, and as Aspect's Vice President of Investor Relations in 2005 and 2006. Prior to joining Aspect, Mr. Armstrong served as Vice President of Finance, Chief Financial Officer and as a director of Haemonetics, Inc., a manufacturer of blood processing systems, and as Vice President of Finance and Administration, Treasurer and Chief Financial Officer at BTU International, a manufacturer of thermal processing systems. In addition, he served for 14 years in senior operating and financial positions at Texas Instruments, Inc., an electronics company.

Mr. Armstrong is a director of TissueLink Medical, Inc. and serves as Chairman of the TissueLink Audit Committee. Mr. Armstrong holds a bachelor's degree in accounting from the University of Texas and is a certified public accountant.

Dave Stewart
Outside Director

Mr. Stewart is a Managing Director in the private equity group at GE Asset Management. Dave has invested in companies in a wide range of industries and across all stages of development and has been focused on healthcare for the past several years. He joined GE Asset Management in 1992 and previously worked at Lloyds Bank plc. GE Asset Management is the investment arm of General Electric Company with $156 billion of assets under management. Dave currently serves on the boards of OmniSonics Medical Technologies, Hema Metrics, Atkins Nutritionals, Octane Fitness, FocusVision and Vapotherm.

Ben Schapiro
Outside Director

Mr. Schapiro is founder and Partner of Questmark Partners. In 1966, he began his career in investment banking at Robert Garrett & Sons, which merged into Alex Brown & Sons in 1974. Throughout his 32-year tenure, his efforts encompassed institutional, international and private client accounts, real estate finance, corporate finance, merger and acquisition transactions as well as public and private investing in emerging growth companies. In 1998, he left Alex Brown to organize QuestMark Partners with the original investment criteria and objectives that exist today. He has served as chairman, vice chairman and trustee or board member of a number of endowment funds, charitable organizations and professionally managed portfolios. Ben graduated from Randolph-Macon College in 1964 with a degree in Economics.

Ben currently is or has been a member or active observer on the boards of Align Technology (ALGN), AngioScore, Aspect Medical Systems (ASPM), eHealth (EHTH), GeneOhm Sciences (BDX), GenVault, Hospital Partners of America, Nimblefish, SeniorHealth, TissueLink Medical, Vapotherm and Xirrus.

William Niland
Executive Director, Chairman

Mr. Niland serves as the Chair of the Board of Directors and as the Chief Business Development Officer, responsible for exploring new business and application areas for the Company's technology.

Mr. Niland holds a Bachelors degree in Law/Justice from Rowan University Glassboro, NJ.

David Schulte
Outside Director

Mr. Schulte is a Principal at Kaiser Permanente Ventures, the corporate venture capital arm of Kaiser Permanente, the nation's largest integrated health care delivery system with 9 million members, 37 hospitals and 13,000 physicians. He focuses on medical device and health care IT company investments and is a board director or observer for several portfolio companies. He has nearly 10 years of experience as a venture capitalist and investment banker raising money for and investing in growth companies. Prior to joining Kaiser Permanente Ventures in 2003, Dave was an investment banker at JPMorgan, Piper Jaffray and UBS PaineWebber. He holds a Bachelor's Degree from St. John's University and a Master's in Public Policy from Harvard University.

Robert Storey
Executive Director

Mr. Storey serves as President & CEO of Vapotherm, Inc., a role he has held since 1999.

Michael Ward
Outside Director

Mr. Ward is a partner at QuestMark and focuses on investments in both healthcare and information technology. He currently also serves on the boards of Vapotherm and MedManage Systems, and is actively involved with Nimblefish Technologies and GeneOhm Sciences. Prior to joining QuestMark, Mr. Ward was a management consultant with the Boston Consulting Group, where he worked with clients in the healthcare, telecom, and retail industries. Previously, he was an Intelligence Officer in the US Navy. Mr. Ward is a graduate of Northwestern University and received his MBA from Harvard Business School.