Updated: October 7, 2010 at 12:00 am
Spectranetics Corp. Chairman, President and CEO Emile Geisenheimer will retire from all three posts Nov. 1, but retain his seat as a director, the Colorado Springs-based medical laser manufacturer announced Thursday.
Geisenheimer, 63, became president and CEO in October 2008, and has been chairman since June 1996. He took over management of Spectranetics just weeks after federal agents raided the company's headquarters as part of an investigation that led to a $5 million settlement with federal regulators and the U.S. Attorney's Office as well as the indictment of his predecessor and two other executives on 12 counts.
He also led the company back to profitability in the second quarter after nearly two years of losses related to the investigation.
"We are grateful for Emile's leadership of the company over many years and particularly for his contributions as president and CEO during an important period in the company's development," said Dr. Joseph Ruggio, a longtime Spectranetics director.
Spectranetics said it has appointed an executive committee of the board to work with the company's management to begin a search for Geisenheimer's replacement.
"I am proud of the company's accomplishments during my tenure as president and chief executive officer and I believe is well positioned to continue the growth and development" of its two primary businesses, Geisenheimer said in press release Thursday. "I look forward to the company's continuing success as it strives to improve the lives of patients suffering from coronary and peripheral arterial disease."