BIONIC ear-maker Cochlear faces a $150 million hit following the group's move to recall one of its most sophisticated products. The hearing implant company announced yesterday that it would freeze directors' fees at 2010 levels after the company was forced to recall one of the Nucleus CI500 devices last month. Cochlear's share price plummeted when the group announced it was recalling the CI512 range after some of the devices failed. Speaking at the group's annual meeting yesterday, chairman Rick Holliday-Smith said: "It was an unfortunate event and we regret the difficulty it has caused for many of our stakeholders, but the recall was the right thing to do".
