Board member shuffle at Volcano

April 3, 2013 by Arezu Sarvestani

Volcano board member John Onopchenko joins the company's executive board and the board chooses a new member.

Volcano logo

Volcano (NSDQ:VOLC) announced a shift in its leadership, with board member John Onopchenko resigning to become executive vice president of strategy, business development and integration.

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.

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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.