Medical device manufacturer Mindray Medical (NYSE: MR) announced this morning that it has appointed a co-CEO for the company.

Cheng Minghe, who currently serves as the company's chief strategic officer -- a position he will maintain -- will join company President Li Xiting in leading the device maker.

Cheng is a co-founder of the company and as such has served in various roles since it was established in 1991, including in sales, marketing, and strategic development. As co-CEO, he will assist  Li in executing Mindray's strategies and overseeing its operations.

"I am very excited about Mr. Cheng's appointment as the co-CEO," Li was quoted as saying. "His extensive experience and exceptional leadership skills made him an ideal candidate for this role. I look forward to him joining me in fulfilling our company's vision and mission in the future."

The medical device maker also announced several other executive changes, including the appointment of Wang Jianxin as chief administrative officer and May Li as chief investment officer. Wang previously served as vice president of Mindray while May Li was previously the deputy CFO. All of the appointments will take effect immediately.

Headquartered in Shenzhen, China, Mindray Medical had nearly $1.1 billion in revenues over the trailing-12-month period ending March 31.


Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.