SonoSite Announces Non-Executive Chairman Kirby Cramer’s Retirement; Dr. Robert Hauser Appointed as New Chairman
August 12 2010 - 12:00PM
Business Wire
SonoSite, Inc. (NASDAQ:SONO), the world leader and
specialist in bedside and point-of-care ultrasound, today announced
that Kirby L. Cramer is retiring as non-executive Chairman of the
Board of Directors, effective August 12, 2010. As part of the
Board’s succession plan, Mr. Cramer will continue to serve as a
director until SonoSite’s 2011 annual meeting of shareholders.
SonoSite’s Board is naming Robert G. Hauser, M.D., F.A.C.C.,
F.H.R.S. to serve as non-executive Chairman of the Board. Mr.
Cramer and Dr. Hauser will begin working together to create an
orderly transition process over the next several weeks.
TRUSTED ADVISOR FOR TWELVE YEARS
“Since SonoSite opened for business in April 1998, Kirby Cramer
has imbued SonoSite with a long-term discipline and persistent
strategic opportunism that has led the company to achieve a revenue
run rate of over a quarter billion dollars and an installed base of
60,000 systems from a standing start in 1999,” said Kevin M.
Goodwin, SonoSite President and CEO. “We simply would not be where
we are today without Kirby’s guidance and encouragement. We wish to
thank and fully acknowledge his unique contributions over the past
twelve years.”
In recognition of Mr. Cramer’s years of service to SonoSite, the
Board of Directors conferred upon him the honorary title of
Chairman Emeritus to be held during the balance of his term as a
director.
YEARS OF LEADERSHIP EXPERIENCE
Dr. Hauser has served as a member of SonoSite’s Board of
Directors since February 2004. Dr. Hauser has been a Senior
Consulting Cardiologist at the Minneapolis Heart Institute since
1992. In 2003-2004 and in 1995-1996, he served as President of the
Cardiovascular Services Division of Abbott Northwestern Hospital.
From 1987 to 2003, he was the Director of the Pacemaker
Surveillance Clinic, Minneapolis Heart Institute. From 1988 to
1992, Dr. Hauser served as President and Chief Executive Officer of
Cardiac Pacemakers, Inc., a division of Eli Lilly and Company,
prior to its merger with Guidant, Inc. Dr. Hauser is a fellow of
the American College of Cardiology and a Founder, Past-President
and Fellow of the Heart Rhythm Society. He received a bachelor’s
degree from the University of Cincinnati and graduated with honors
from the College of Medicine at the University of Cincinnati in
1968.
Mr. Goodwin continued, “Dr. Hauser is a great visionary who
offers SonoSite a unique set of skills as we move forward into
healthcare reform and as the global adoption of our visualization
tools continues around the world.”
STRUCTURE CHANGES FOR 2011
With the retirement of Mr. Cramer, following the annual
shareholders meeting in April 2011, the Board will have adopted a
reduced structure and simplified committee format that will move
the company from nine to seven independent members. Additionally,
steps have already been taken to reduce the number of committees
from five to three (Audit, Compensation, and Nominating and
Corporate Governance). The structure is consistent with Nasdaq
standards and SEC requirements.
“The cumulative effect of these changes will result in a more
streamlined and cost-effective structure that will continue to
support SonoSite’s corporate governance and strategic oversight
responsibilities,” said Carmen Diersen, the company’s Chair of its
Corporate Governance Committee.
About SonoSite
SonoSite, Inc. (www.sonosite.com) is the innovator and world
leader in bedside and point-of-care ultrasound and an industry
leader in ultra high-frequency micro-ultrasound technology and
impedance cardiography equipment. Headquartered near Seattle, the
company is represented by ten subsidiaries and a global
distribution network in over 100 countries. SonoSite’s small,
lightweight systems are expanding the use of ultrasound across the
clinical spectrum by cost-effectively bringing high-performance
ultrasound to the point of patient care.
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