VÄSTRA FRÖLUNDA, Sweden--(BUSINESS WIRE)--Hans Rosén, Artimplant's (STO:ARTIB) CEO for almost five years, has decided to step down in conjunction with the election of a new Board of Directors at the Artimplant Annual General Meeting, which is due to take place today. Hans Rosén has a period of notice of four months. Kjell Thörnbring, Artimplant CFO, has been appointed as acting CEO from May 5th.
"Hans Rosén has done a very admirable job for Artimplant. He personifies our successful establishment in the USA," states retiring Chairman Ingemar Kihlström.
"I regret that Hans has decided not to continue at Artimplant but we respect his decision fully. We will commence the recruitment process immediately to find a successor," states Anders Cedronius, chairman of the Election Committee and the proposed new Chairman of the Board of Directors.
Artimplant’s mission is to restore the health of patients by offering medical professionals degradable implants that help the body to heal. Artimplant is a medical device company that restores health through the development, production and marketing of degradable implants that regenerate body functions and improve quality of life. Our products are made from Artelon®, a biomaterial developed by the Company. Artimplant's implants are used for the treatment of osteoarthritis and the reinforcement of weakened soft tissue. The Company's products are sold through licensees and own sales under the Artimplant brand take place through agents and distributors. Artimplant is a public company listed on the NASDAQ OMX Stockholm Exchange in the Small Cap segment and in the Healthcare sector.
This press release contains forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the Company's business including increased competition; the ability of the Company to expand its operations and to attract and retain qualified professionals; technological obsolescence; general economic conditions; and other risks detailed from time to time in the Company's filings.
This is information which Artimplant shall make public pursuant to the Swedish Financial Instruments Act and the Swedish Securities Exchange and Clearing Operations Act and/or stock market agreements. Information was made available for publication on May 4, 2011 at 4 PM (CET).
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