Volcano board member John Onopchenko joins the company's executive board and the board chooses a new member.
Onopchenko announced his resignation at the end of last month and Volcano's board of directors named a successor the same day, adding Siddartha Kadia as of March 29, 2013.
Onopchenko joined Volcano's board in June 2007, according to a corporate bio still posted among Volcano's board profiles, which also lists him as the founder and managing director of Synergy Life Science Partners, a venture capital firm.
New board member Kadia stands to receive a $50,000 annual retainer for service as a director, and will also receive a supplemental $7,000 retainer as a member of the corporate governance & compliance committee, according to an SEC filing.
Last month San Diego, Calif.-based Volcano promised a return to double-digit sales growth over the next 5 years, just weeks after the company abruptly lowered its sales and earnings guidance for 2013.
At its annual investors day Volcano said it plans to grow its top line at a compound annual growth rate of 13%-15% from 2012-2017, as well as increase its sales margins substantially and grow its free cash flow significantly.
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