Salt Lake City— On Tuesday (May 13), the Board of Directors of Sonic Innovations announced that Andrew Raguskus has stepped down as Chairman of the Board. Raguskus will continue as a member of the Board of Directors and serve as its Senior Technology Advisor. As a result of Raguskus' announcement, the Board of Directors appointed President and CEO Sam Westover to serve as Chairman of the Board and CEO for the company.
James Callahan will continue to serve as Lead Independent Director for the Board of Directors. Callahan has been a director for the company since 2004 and was reelected for an additional 3-year term at this year's annual shareholders meeting. He is also a member of the Board's Audit and Compensation Committees.
In making his announcement, Raguskus stated, "When I was asked to serve as Chairman of the Board, it was with the intention of giving Sam [Westover] time to focus his attention on the strategy and operations of the business. He has clearly set the company on the right path and, therefore, it is time for me to step aside and allow him to assume full leadership responsibility for the company."
"Andy has been a tremendous asset to this company and the Board, and I have the utmost respect for his leadership and accomplishments," said Mr. Westover in response to his appointment as Chairman of the Board. "Sonic would not be celebrating its 10-year anniversary were it not for his commitment to developing and delivering the best hearing instruments. I am pleased that Andy has agreed to accept the role of Senior Technical Advisor. His knowledge and insight to the hearing aid industry will be invaluable as we continue to develop new products to meet the needs of our customers."
For more information about Sonic Innovations visit www.sonici.com or Sonic Innovations Web Channel at Audiology Online.
Taken from: www.hearingreview.com/insider/2008-05-15_20.asp
