Key Tech co-founder Jenny Regan plans to retire as CEO of the product development firm at the end of August, making way for VP of Strategy Alex Flamm to take her place.

Regan has been CEO since she and her co-founders launched the Baltimore firm in 1998. The company said it now has 75 interdisciplinary medical product designers and hundreds of clients in the medical technology industry, including Becton Dickinson, GE, Thermo Fisher, HemoSonics, GenMark and Abiomed.

Regan, who led Key Tech’s transition to a fully employee-owned company in 2019, will join the Key Tech Advisory Board.

“I’m incredibly proud of what we’ve built and how much good we’ve been able to do,” Regan said in an announcement posted to the company’s website last week. “I’m confident in our new leadership and will always be inspired by the talent and care shown by our whole team.”

Co-founder and VP of Product Development Scott Corey, a member of the Key Tech Executive Committee, credited Regan’s leadership and commitment to Key Tech and its clients.

“Under her leadership, Key Tech has brought hundreds of new medical technologies to patients worldwide, from clinical diagnostics to home healthcare wearables,” Corey said in the announcement.

Flamm joined Key Tech in 2007, moving his way up from design team member to senior engineer and program manager. He became a partner in 2014 and VP of strategy in 2020, according to his LinkedIn profile. The company said he was “instrumental” in establishing Key Tech’s Usability Engineering Program and building the industrial design team.

Flamm called his new leadership role “a tremendous honor.”

“I thank Jenny for her mentorship, and I plan to continue her tradition of service to the company and Key Tech’s employee-owners,” he said in the announcement. “I’ll be working with our Executive Committee, Partner Group and our entire team to continue Key Tech’s legacy of success, focusing on maintaining the culture established over decades while carefully driving strategic change. I’m excited to see the ways in which Key Tech grows as we continue to solve our clients’ toughest product development challenges and nurture our long-standing client relationships.”