Sandgaard asked for the resignations of board members Mats Wahlstrom, Mary Beth Vitale, Kevin Smith and Taylor Simonton, to add board members who share Sandgaard’s vision for the rehab devices maker.
The Lone Tree, Colo.-based company’s founder & CEO received responses from the ousted members, in which they cited a strategic restructuring plan that asked for the reduction of the board from 5 members to 3, according to a regulatory filing.
Sandgaard expects the restructuring plan is to right the company ship, especially with regard to its financial outlook.
Stryker CAO steps down
Stryker (NYSE:SYK) chief accounting officer Tony McKinney will step down. McKinney is expected to take another unnamed position within the company, but will continue his current position through the filing of the company’s 2013 annual report.
Merit Medical COO retires
Merit Medical (NSDQ:MMSI) said chief operating officer Arlin Nelson is retiring, effective immediately. Nelson was with the company for over 25 years. The company’s CFO Ronald Frost will succeed him as COO.
Synergetics CSO retires
Synergetics’ (NSDQ:SURG) chief scientific officer Dr. Jerry Malis is retiring, effective immediately. Malis is going to consult for the company for the rest of the year. Synergetics does not plan on hiring a new CSO, instead delegating Malis’ responsibilities to other executives.
Steris VP takes leave of absence
Steris’ (NYSE:STE) VP Timothy Chapman is taking a personal leave of absence from the company. The company’s CEO and his staff will take over Chapman’s responsibilities until June 1st, Chapman’s expected return date.