Liam Kelly, president & chief operating officer, was tapped to succeed Smith as CEO for the Wayne, Pa.-based company.
“I want to thank the Board of Directors, along with all of our employees and shareholders, for the opportunity to serve on the executive management team at Teleflex,” Smith said in prepared remarks. “When I began my tenure as CEO in 2011, Teleflex was completing its transition from a diversified industrial company, and I’m proud that in less than a decade we have been able to successfully grow into our current position as a leading global provider of medical devices. I have tremendous confidence in my colleague, Liam Kelly, and the talented executives that we have been able to attract and develop at Teleflex, and I look forward to Teleflex’s continued success under Liam’s leadership and strategic guidance.”
“I’m grateful to Benson for his years of leadership as CEO, under which Teleflex has continuously expanded and improved its capabilities as a diversified, global provider of medical technologies, and I’m excited by the prospect of leading Teleflex through the Company’s next stage of growth and development,” Kelly added.
The $56-per-share sale brings a portfolio of coronary and peripheral vascular devices under the Teleflex umbrella.
In January a group of shareholders sued to block the merger, alleging that the deal undervalues Vascular Solutions and shuts out competing bids. The purported class action, filed Jan. 27 in the U.S. District Court for Minnesota, argued that the $56-per-share Teleflex deal is an “inadequate consideration” for Vascular Solutions.
Novo Nordisk (NYSE:NVO) said this week that Jakob Riis, the head of its North American operations, has resigned. Riis joined the company in 1996, but has only worked as the U.S. chief since September.
The move comes after the world’s largest insulin maker disappointed investors with a lower 2017 sales and profit growth forecast, citing political uncertainty and a growing sense of pressure surrounding drug prices.
“Given the evolving payer pressures faced by the company over insulin pricing in the United States, Jakob’s departure after such a short period of time may raise some eyebrows,” Jefferies analysts said in a note.
Active Implants named Ted Davis as president & CEO of the orthopedic implant company, succeeding Henry Klyce, who will serve as chairman of the board.
“I am honored and excited to lead Active Implants as we prepare for the next phase of development for the NUsurface Meniscus Implant around the world,” Davis said. “We have an opportunity to fulfill a significant unmet need in the orthopedic market here in the U.S. and worldwide, helping the millions of patients with persistent knee pain following meniscectomy. I look forward to continuing to work with Henry, given his successful track record in the orthopedics and spine medical technology industry and the outstanding progress he has led in the clinical development programs for the NUsurface Meniscus Implant here at Active Implants.”
Medizone International tapped David Esposito to be chairman of the board and interim CEO after Edwin Marshall steps down in March.
“On behalf of our employees, the board, and shareholders, I want to thank Ed for his leadership and commitment to the company. It has been Ed’s leadership and perseverance over the years that has positioned us for commercial success at this time,” Esposito said. “I look forward to leading the Company through this transition as we build our commercial team to launch AsepticSure in the US and other key markets. I would also like to recognize the effort and commitment of Dr. Michael Shannon, president and director of medical affairs. Dr. Shannon will play a critical role as we translate the clinical utility of AsepticSure into commercial success.”