Devices & Diagnostics

Cardiac medical device company Thoratec loses CFO David Smith

Thoratec Corp. (NSDQ:THOR) said CFO David Smith is walking away from the company after nearly five years on the job. Smith, who has been with the Pleasanton, Calif.-based implantable heart pump maker since Dec. 2006, will resign his position effective June 10, but will stay on until the end of the month to help with […]

Thoratec Corp. (NSDQ:THOR) said CFO David Smith is walking away from the company after nearly five years on the job.

Smith, who has been with the Pleasanton, Calif.-based implantable heart pump maker since Dec. 2006, will resign his position effective June 10, but will stay on until the end of the month to help with the transition, according to regulatory documents filed by Thoratec. No official reason was provided for Smith’s sudden departure.

Smith took home just under $1.6 million in total salary in 2010, including a $373,439 base salary, along with performance bonuses and stock option awards.

Stepping up to replace Smith will be Thoratec’s vice president of finance Roxanne Oulman.

Oulman, 39, will hold the position on an interim basis until a permanent replacement is found, officials said. She has been with the company since 2004.

During the three month period ended April 2, Thoratec reported $16.5 million in net income on $99.5 million in sales, a 32 percent increase from the $12.4 million profit on $99.2 million in sales.

The Massachusetts Medical Devices Journal is the online journal of the medical devices industry in the Commonwealth and New England, providing day-to-day coverage of the devices that save lives, the people behind them, and the burgeoning trends and developments within the industry.

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