For the first time since he founded the company 45 years ago, Bernard Gordon will not be involved with Analogic Corp.
The Peabody-based imaging equipment maker announced, in a one-sentence filing with the federal Securities and Exchange Commission, that 81-year-old Gordon is stepping down from the company’s board of directors, effective immediately.
No further information was released by Analogic, which Gordon shepherded from its inception in 1964 through his departure as chairman and CEO in 2003. Analogic pulled in over $400 million in sales of its various medical imaging products last year.
An accomplished inventor, Gordon is credited with developing the fetal monitor, the high-speed analog-to-digital converter, the instant imaging computer-aided tomography scanner and the Doppler radar, according to a profile by his alma mater, the Massachusetts Institute of Technology
He’s also known for his philanthropic efforts, in particular for signing over all of his Analogic shares to the Bernard M. Gordon Charitable Remainder UniTrust after stepping down from an active role with the company in 2003. The trust has since donated more than $120 million to non-profit concerns across the Commonwealth.
The changeover is the second seismic shift for the company this week; yesterday, incoming CFO Michael Levitz took over from John Millerick, who spent nine years with the company.