Haemonetics

(HAE) - Get Report

said finance chief Ronald Ryan will retire.

The Braintree, Mass., maker of blood processing gear said Ryan would depart after a successor is named. He'll leave after nearly eight years in the job. Haemonetics hired Heidrich & Struggles to lead the search for a new CFO.

"I credit Ron's disciplined leadership for the consistent improvements in Haemonetics' cash flow, profitability and balance sheet," said CEO Brad Nutter. "I am pleased that Ron has agreed to remain with us for a period of time after his successor is appointed, to assist in the transition and to lead our global enterprise resource planning initiative -- the largest and most significant company-wide, internal initiative Haemonetics has embraced."

Ryan will remain a member of the operating committee until his retirement.