18.02.2005 14:32:00
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Mentor Announces Changes to Board of Directors
Business Editors/Health/Medical Writers
SANTA BARBARA, Calif.--(BUSINESS WIRE)--Feb. 18, 2005--Mentor Corporation (NYSE:MNT), a leading supplier of medical products in the United States and internationally, today announced that Christopher J. Conway, Chairman, and Adel Michael, Vice Chairman, have resigned from the Company's Board of Directors.
"After 36 years with Mentor, I am looking forward to a leisurely retirement," commented Conway. "I know the Company is in good hands, and I am confident that it will continue to enjoy the same success in the future that it has in the past."
The Company also announced that Joseph E. Whitters, a member of the Audit Committee, has been elected to the position of Chairman of the Board. Joshua H. Levine, who joined Mentor in 1996, remains President and Chief Executive Officer and a member of the Board of Directors.
"Chris Conway's many accomplishments and his great legacy of innovation remain a guiding principle at Mentor. Adel Michael's strategy of growth and improved profitability through a series of acquisitions provided catalysts for the Company's performance during his tenure," commented Whitters. "Working with the Board, Josh and his executive management team have defined a strong strategy to leverage on Mentor's past successes and extend our position in the markets we serve, and we are confident in the future."
Mr. Conway was a founder of Mentor and served as Chairman of the Board since 1969. Under his leadership, the Company acquired the Heyer-Schulte breast implant business in 1984 and expanded into the field of aesthetic medicine. He served as Mentor's Chief Executive Officer from 1969 to July 1999 and as Chief Executive Officer and President of the Company from September 2000 to May 2004.
Mr. Michael joined Mentor in April 2000 as Senior Vice President, and served as Treasurer and Chief Financial Officer until May 2004. He was promoted to Executive Vice President in September 2001, and was appointed Vice Chairman in December 2003. He was elected to the Board of Directors in September 2004.
Joseph E. Whitters was elected to Mentor's Board of Directors in September 2004. He served in a number of executive positions from 1988 through 2004 at First Health Group Corp., a national health benefits company, including Executive Vice President, and Vice President of Finance and Controller and Chief Financial Officer. Prior to joining First Health, he was employed in various financial, accounting and tax positions by United Healthcare Corp., Overland Express and Peat Marwick. Mr. Whitters is a certified public accountant and is also a director of Omnicell, Inc. and Luminent Mortgage Capital.
About Mentor Corporation
Founded in 1969, Mentor Corporation is a leading supplier of medical products for the global healthcare market. The Company develops, manufactures and markets innovative, science-based products for the aesthetics, urologic specialties and clinical and consumer healthcare markets around the world. The Company's website is www.mentorcorp.com.
Safe Harbor Statement
All statements included or incorporated by reference in this release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our industry, management's beliefs and certain assumptions made by us. Forward-looking statements can often be identified by words or phrases such as "anticipates," "scheduled," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "is confident," "may," "will," "should," "would," "could," "potential," "in the future," "continue," similar expressions, and variations or negatives of these words. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These forward-looking statements speak only as of the date hereof and are based upon the information available to us at this time. Such information is subject to change, and we will not necessarily inform you of such changes. These statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that are difficult to predict. Therefore, our actual results could differ materially and adversely from those expressed in any forward-looking statement as a result of various factors.
The Securities and Exchange Commission filings of Mentor, including, without limitation, its Annual Reports on Form 10-K, subsequent quarterly reports on Form 10-Q, and recent Current Reports on Form 8-K, discuss important risk factors that could contribute to such differences or otherwise affect its business, results of operations and financial condition. Mentor undertakes no obligation to revise or update publicly any forward-looking statement for any reason.
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CONTACT: Mentor Corporation Peter R. Nicholson, 805-879-6082
KEYWORD: CALIFORNIA INDUSTRY KEYWORD: MEDICAL MEDICAL DEVICES MANAGEMENT CHANGES SOURCE: Mentor Corporation
Copyright Business Wire 2005
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