In a sudden switch, Conceptus (NSDQ:CPTS) named Keith Grossman president & CEO upon the resignation of Mark Sieczkarek, whose departure was announced on the heels of lowered sales guidance for 2012.
Sieczkarek’s resignation, after 7 years at the helm, was announced simultaneously with Grossman’s appointment. Grossman will join the company’s board of directors, from which Sieczkarek also resigned.
Grossman was most recently a managing director at private equity firm TPG Biotech, prior to which he served 10 years as president & CEO of Thoratec Corp. (NSDQ:THOR). During his tenure, Thoratec’s annual revenues grew from $3 million to more than $200 million.
The company did not immediately return calls for comment on the news.
Conceptus also cut its sales expectations to $126-$128 million from a previous estimate of $132-$136 million, marking the third time the company has lowered its 2012 guidance.
The Mountain View, Calif.-based contraceptive devices maker blamed continued deterioration in the European markets and softness in overseas procedure volumes for the lowered expectations.
For the past few months, Conceptus has been mired in a patent spat against against rival contraceptive maker Hologic (NSDQ:HOLX), which recently ended in a $19 million win for Conceptus.
Here’s the latest personnel changes from medical device, diagnostics and life science companies around the nation. For more recent hirings and firings, check out MassDevice’s compilation of the latest personnel moves.
Dara Biosciences CEO steps down
DARA BioSciences Inc. (NSDQ:DARA) announced that Richard Franco, Sr. will retire as chairman, president & CEO and as a director effective as of Dec. 16, 2011. Dr. David Drutz, who is currently a member of the company’s board of directors,will serve as the company’s interim CEO. Read more
Quest gets new director
Quest Diagnostics Inc. (NYSE:DGX), provider of diagnostic testing, information and services, announced that its board of directors elected Timothy Ring to serve as a director, effective immediately. Read more
OrthoAccel names new CFO
OrthoAccel Technologies Inc. developers of an acceleration device to enhance orthodontics, named Andre Layman CFO effective Dec. 1, 2012. Read more
