Medical device maker Urologix’s (NSDQ:ULGX) president & CEO Stryker Warren Jr. announced his retirement, effective at the end of this month.
Warren, who originally came out of retirement in June 2008 to take over Urologix’s corner office, will stay on as a salaried employee until March 29, 2013.
Following a transition period, Warren will stay on as a consultant to the company at a rate of $1,000 for each 8-hour day, which Urologix will prorate for partial days of service, according to a regulatory filing.
"During his four year tenure as CEO, [Warren] revitalized the company’s relationships with the urologic community, organized the original patient education initiatives which have become the principal driver of the company’s growth strategy, built a strong leadership team to include the recruitment of Mr. Fluet and steered the company through a difficult decline in the in-office BPH therapy market," according to a Urologix press release.
Urologix appointed current CFO Greg Fluet to take over as interim CEO while the board searches for a permanent chief.
Fluet joined Urologix just 1 month after Warren took over, prior to which he worked at a medical device venture capital firm.
Minneapolis, Minn.-based Urologix recently posted its 2nd-quarter sales, touting an impressive 42% boost in sales but more than doubling its losses.
