Caldwell a 30+Year Veteran of the Ophthalmic Industry Theodore A. Boutacoff
Elected Chairman of the Board
MOUNTAIN VIEW, Calif., July 5 /PRNewswire-FirstCall/ -- IRIDEX Corporation (Nasdaq: IRIX) today announced that its Board of Directors has appointed Barry G. Caldwell (54) as its new President and CEO, succeeding Theodore A. Boutacoff (58) who has served in the role since 1989. As planned and announced earlier this year, Mr. Boutacoff has been elected Chairman of the Board of IRIDEX. Mr. Caldwell has also been elected to serve on the IRIDEX Board of Directors.
Mr. Caldwell has more than 30 years of general management, sales, marketing and corporate business development experience in the ophthalmic industry and has managed medical device, pharmaceutical and consumer-related products. For 20 years, Mr. Caldwell served in various capacities with Alcon Laboratories, Inc. (Alcon), a leading developer, manufacturer and marketer of ophthalmology products; his most recent positions were as Vice President of Alcon Canada and Vice President and General Manager of Alcon's US Surgical Division. Under his leadership, Alcon Canada's consumer business achieved the leading market share position. Mr. Caldwell also created and executed a long- term corporate development and acquisition strategy for Alcon and was responsible for managing all of the company's relationships with key legislative, legal and regulatory agencies including government reimbursement strategies.
As the Vice President and General Manager of Alcon's US Surgical Division, Mr. Caldwell was responsible for managing all functional areas of the division, which included surgical instrumentation and disposable devices used in cataract, refractive and vitreoretinal procedures. Under his leadership, the division grew annual revenue to $600 million, increased its contribution margin, significantly increased its market share and successfully acquired and integrated four companies and seven new technologies. Before this, Mr. Caldwell was the Vice President and General Manager of Alcon's Surgical Instrumentation Unit. In this role, he successfully managed all functional areas related to the cataract and vitreoretinal instrumentation product lines.
"Barry brings to IRIDEX a strong history of execution and an incredible body of knowledge, relationships and experience in the ophthalmic industry," said Mr. Boutacoff, Chairman of the Board of IRIDEX. "His successful track record includes achievements in operating performance, strategic planning, mergers and acquisitions and executing strategic initiatives which resulted in profitable revenue growth. With more than 30 years of experience in the ophthalmic sector, and more than 20 years of tenure at Alcon, Barry has well established relationships with physicians, industry executives and key regulatory and legislative opinion leaders that will be beneficial to IRIDEX. We believe that Barry's expertise and leadership will allow us to capitalize on our emerging opportunities."
"I am excited to join the IRIDEX team," said Mr. Caldwell. "IRIDEX is a very well respected company in the industry with a solid reputation for providing customers with high quality, high value products and services. I believe that IRIDEX' solid core businesses in ophthalmology and dermatology products position the Company well for future expansion. This is an exciting time for IRIDEX and I look forward to taking on a leadership role, as we continue to develop and execute our long-term growth strategy."
In the early years of his career, Mr. Caldwell served as the Vice President of Sales, Marketing and Technical Services and in other sales roles of escalating responsibility within Cavitron and CooperVision. Later, as the Vice President of Sales, Marketing and Technical Services for Alcon's Surgical Instrumentation Unit, he had responsibility for activities surrounding new product introductions and development and led a staff of 250.
Mr. Caldwell previously served on the Boards of Directors for Laser Diagnostic Technologies and Tekia, Inc. In addition, he has also served on the Boards of Directors for three ophthalmic industry groups, AdvaMed, NAEVR and EyeRx Coalition. Mr. Caldwell is also a former member of the Kentucky State Legislature, where he served three consecutive terms in the State's House of Representatives. Mr. Caldwell has a Bachelor of Arts in Political Science and English from Georgetown College and a Juris Doctorate from the Northern Kentucky University Chase College of Law.
About IRIDEX
IRIDEX Corporation is a leading worldwide provider of semiconductor-based laser systems for the ophthalmology and dermatology markets. IRIDEX products are sold in the United States through a direct sales force and internationally through a network of independent distributors into more than 100 countries. For further information, visit the Company's website at www.iridex.com.
SOURCE IRIDEX Corporation
-0- 07/05/2005
/CONTACT: Larry Tannenbaum, Chief Financial Officer of IRIDEX,
+1-650-940-4700/
/Web site: http://www.iridex.com /
(IRIX)
CO: IRIDEX Corporation; Alcon Laboratories, Inc
ST: California
IN: MTC BIO SEM HEA CPR
SU: PER
TH-ND
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9238 07/05/2005 07:00 EDT http://www.prnewswire.com
