LeMaitre Vascular Appoints Russell D. Hays to Its Board of Directors
December 17 2007 - 6:01PM
PR Newswire (US)
BURLINGTON, Mass., Dec. 17 /PRNewswire-FirstCall/ -- LeMaitre
Vascular, Inc. (NASDAQ:LMAT) (the "Company") today announced that
Russell D. Hays has been appointed to its Board of Directors,
effective as of January 1, 2008. Mr. Hays will serve as a Class II
director, standing for election at the next annual meeting of the
Company's shareholders, and will also serve as Chair of the
Company's Nominating and Corporate Governance Committee and as a
member of its Audit Committee. Russell D. Hays most recently served
as the President, CEO, and Chairman of Biosource International,
Inc., a leading provider of biomedical research tools that was
acquired by Invitrogen Corporation in October 2005. Prior to his
work at Biosource, Mr. Hays served as President and CEO of NEN Life
Sciences, Inc., a major supplier of reagent systems for the
genomics industry. Mr. Hays also previously served as the President
and CEO of ReSound Corporation, a publicly traded company, and as
the Executive Vice President and President of Nellcor Puritan
Bennett's Hospital Business Division. In addition, Mr. Hays served
on LeMaitre Vascular's Board of Directors from 2003 through 2005.
Mr. Hays received a Masters Degree in business from the J.L.
Kellogg Graduate School of Management at Northwestern University
and a Bachelor of Science in physics from Elmhurst College. "The
Board is delighted to welcome Russ back, and we look forward to his
help in taking the company to the next level," said George W.
LeMaitre, Chairman and CEO, who added "Russ's knowledge of LeMaitre
Vascular, combined with his exceptional track record in growing
successful businesses, makes him an ideal member of our Board." The
Company expects that the appointment of Mr. Hays to its Board of
Directors and Audit Committee will cause it to regain compliance
with the Marketplace Rules of The Nasdaq Stock Market ("Nasdaq").
As previously announced, the voluntary resignation in August of
Guido J. Neels as a director of the Company resulted in the
Company's noncompliance with Nasdaq rules requiring that a majority
of the Company's Board of Directors be independent and that the
Company's Audit Committee be composed of three or more independent
directors. Nasdaq rules allow such vacancies to be filled during a
cure period. The appointment of Mr. Hays falls well within this
cure period, and the Company expects that Nasdaq will find that the
Company has regained compliance with its rules when Nasdaq reviews
the matter in January 2008. About LeMaitre Vascular LeMaitre
Vascular develops, manufactures, and markets medical devices for
the treatment of peripheral vascular disease. The company's
principal executive offices are located at 63 Second Avenue,
Burlington, Massachusetts 01803. Certain statements set forth above
that are not clearly historical in nature are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including, but not limited to, the Company's
anticipation that it will regain compliance with Nasdaq Marketplace
Rules. Although the Company believes that such statements are based
on reasonable assumptions within the bounds of its knowledge, these
forward- looking statements are neither promises nor guarantees.
The forward-looking statements made in this release are made only
as of the date hereof, and the Company disclaims any intention or
responsibility for updating predictions or expectations contained
in this release. DATASOURCE: LeMaitre Vascular, Inc. CONTACT: Aaron
Grossman, Investor Relations, of LeMaitre Vascular, Inc.,
+1-781-221-2266 Web site: http://www.lemaitre.com/
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