American Shared Hospital Services announced that effective on May 4, 2020, Ernest A. Bates, M.D., will retire as President and Chief Executive Officer of the Company. Dr. Bates will continue as the Company's Executive Chairman of the Board of Directors until December 31, 2020. Raymond C. Stachowiak, a member of the Board since 2009, has been appointed Interim President and Chief Executive Officer effective upon Dr. Bates' retirement and will continue to serve on the Board.

Dr. Bates founded the Company in 1977 as President and Chief Executive Officer.