Manny Villafaña, Chairman and Chief Executive Officer of Kips Bay Medical, Inc. (NASDAQ: KIPS) announced the addition of two new officers to the Company’s management team and the departure of one officer.
On May 2, 2011, Mr. Michael Reinhardt will join the Company as its Vice President of Sales & Marketing. Mr. Reinhardt has thirty years of sales and marketing experience. Mr. Reinhardt’s recent experience includes serving as Vice President of Global Marketing of ATS Medical, Inc., a provider of heart valves and life-saving cardiac surgery products and Vice President of Global Marketing for the Cardiac Surgery Division of St Jude Medical, Inc. Mr. Reinhardt holds a Master of Business Administration in general business from Baruch College, New York, NY and a Bachelor of Business Administration in Marketing from Ohio University, Athens, OH.
On May 16, 2011, Mr. Randall K. LaBounty will join the Company as its Vice President of Regulatory and Clinical Affairs. Mr. LaBounty has over twenty years of experience working in medical research with sixteen years of experience in cardiovascular medical devices. Prior to joining the Company, Mr. LaBounty served as Vice President of Clinical Research of Osprey Medical and as the Vice President of Clinical and Regulatory Affairs for Lumen Biomedical, Inc. Mr. LaBounty holds a Master of Science in Biostatistics and a Bachelor of Science in Genetics and Cell Biology from the University of Minnesota.
Michael P. Winegar, Vice President of Regulatory Affairs, Chief Operating Officer, and Director of Kips Bay Medical, Inc. (the “Company”), recently notified the Company of his intention to retire from his position as an executive officer and employee of the Company. Mr. Winegar will remain with the Company in his current position for a period of time to participate in the transition and training of the Company’s new Vice President of Regulatory and Clinical Affairs and has agreed to provide assistance to the Company and our Board of Directors on a consulting basis after his final separation from employment. Mr. Villafaña will assume responsibility for oversight of the operations of the Company upon Mr. Winegar’s departure. Mr. Winegar will not be nominated for re-election as a Director at the Company’s 2011 Annual Meeting of Stockholders, and will remain as a Director of the Company until such meeting.