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IRIDEX Appoints Chairman William M. Moore As Interim President & CEO

Stocks in this article: IRIX

MOUNTAIN VIEW, Calif., Aug. 28, 2012 /PRNewswire/ -- IRIDEX Corporation (Nasdaq: IRIX) today announced that its board of Directors has named medical device industry veteran William M. Moore., age 63, as interim President and Chief Executive Officer, effective immediately.  Moore replaces Dominik Beck, whose employment with the Company ceased on August 24, 2012.  Moore currently serves, and will continue to serve, as Chairman of the IRIDEX Board of Directors during his tenure as interim Chief Executive Officer.  He has served as a director of the Company since September 2007.

The Company also announced that the Board has appointed James Mackaness, age 48, as Chief Operating Officer, effective immediately. Mr. Mackaness will continue to serve in his role as the Company's Chief Financial Officer.  Mackaness joined the Company in January 2008 as Chief Financial Officer. Mackaness stated, "I am very glad to have this opportunity to work more closely with Mr. Moore and the board of directors as the company's Chief Operating Officer.  IRIDEX is a global leader in ophthalmology and I believe well positioned to deliver on its long-standing commitment to profitable operations as we continue to evolve and expand the business."

In assuming the President and CEO role, Moore indicated that he will lead the company's strategic direction and execution in order to increase shareholder value while Mackaness will assume more of the day-to-day operational responsibilities at IRIDEX.

Moore stated, "IRIDEX is in the unique and positive position of having both established and emerging products targeted at large and growing markets. The company has many assets, including technologies and intellectual property associated with a potential paradigm-changing means of treating serious eye conditions, a stable balance sheet and a talented team of employees.  Having been a board member for more than 5 years, I am excited about this opportunity to serve as the President and CEO of IRIDEX.  I am committed to representing the interests of all stakeholders as we work to build shareholder value."

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