Surgical device-maker Misonix has named an interim CEO following the resignation of longtime chief executive Michael McManus.
McManus, who led the Farmingdale firm for 16 years, announced Aug. 29 he was retiring as president and CEO and resigning his post as chairman of the Misonix board of directors. Succeeding him is Stavros Vizirgianakis, who took the CEO reins on an interim basis as of Sept. 2.
Vizirgianakis, who has sat on the directors board since 2013 and owns nearly 6 percent of Misonix, will serve as an unpaid interim chief executive while he negotiates terms with company principals to permanently assume the role.
“I am honored to be asked to serve as interim chief executive officer and am excited about the company’s products and future,” Vizirgiianakis said in a statement. “The Misonix team will no doubt continue to put forth their best efforts to design, develop and manufacture cutting-edge technology for the medical-device field.”
Vizirgianakis, who also sits on the directors board at California device-maker Tenaxis Medical, is the co-founder of Surgical Innovations Pty Ltd., a UK maker focused on minimally invasive procedures.
He previously served as a principal at Applied Bio-Surgical, Misonix’s South African distributor, and as sales director at Connecticut-based distributor United States Surgical Corp.
Misonix designs, manufactures and markets innovative therapeutic ultrasonic products for spinal, skull-based and laparoscopic surgeries, as well as neurosurgeries.
The publicly traded company has struggled financially – shares are trading on the Nasdaq roughly 45 percent below their September 2015 marks – but McManus said he has “great confidence in the company’s future potential and the leadership of Stavros Vizirgianakis.”
“I retire with gratitude for the dedicated professionals who have contributed to the company’s innovation and growth,” the outgoing chairman and CEO said in a statement. “I look forward to doing whatever I can to be helpful to [Vizirgianakis] as he transitions to his new role.”