Diagnostic testing specialist SurModics (NASDAQ: SRDX ) announced on Friday that board Chairman Robert C. Buhrmaster, who joined the board of directors in 2008, will retire after the company's annual shareholder meeting, scheduled for February. He will be replaced by current board member Scott R. Ward, who will have his position filled in due course.
In thanking Buhrmaster for his service to the company and welcoming Ward into his new role, SurModics President and CEO Gary Maharaj said, "As we pursue our business strategy to grow SurModics' core businesses and expand beyond the core, Scott's extensive medical device and business experience will be invaluable."
Ward has more than 30 years of experience in the health-care industry, including 15 years as a senior operating business leader, most recently at Medtronic, where he served as senior VP and president of its cardiovascular business. Ward has been a director of SurModics since 2010 and serves as managing director at SightLine Partners and is the founder of Raymond Holdings.
Burhmaster also offered up a vote of confidence for his successor, saying: "I am confident that this is the right time to pass the baton to a new board chair. I believe that Scott is the right person to guide SurModics to new levels of growth in its medical device and in vitro diagnostics businesses."
Headquartered in Eden Prairie, Minn., SurModics specializes in surface modification, drug delivery, and in vitro diagnostic technologies for the health-care industry.