EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--SurModics, Inc. (Nasdaq:SRDX), a leading provider of surface modification and drug delivery technologies to the healthcare industry, announced today several changes in the composition of its Board of Directors.
Under the Board’s recently adopted retirement policy, Dale R. Olseth and David A. Koch will not stand for re-election at the company’s upcoming Annual Meeting of Shareholders in January 2008 and will retire from the Board at the conclusion of that meeting. Mr. Olseth was also designated Chairman Emeritus by the Board. As a result of these upcoming retirements, the Board has been actively evaluating Director candidates to fill the vacancies created by the retirement of Messrs. Olseth and Koch. Under the new retirement policy, Kenneth H. Keller, Ph.D. would normally have retired at the same time as Messrs. Olseth and Koch. However, at the request of the Board, Dr. Keller has agreed to continue to serve on the Board to help ensure an orderly transition.
