Thoratec CFO David Smith Resigns

By Features FOXBusiness

Thoratec Corp. (THOR), a medical technologies provider, said today that David V. Smith resigned from his position as Executive Vice President and Chief Financial Officer of the company, effective immediately.  

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The management change was disclosed in a filing with the Securities and Exchange Commission.

Before joining Thoratec in December 2006, Smith was with Chiron Corporation, a global pharmaceutical company, from 1999 to 2006, holding positions including CFO.

Smith served as Vice President, Finance and Chief Financial Officer of Anergen Inc. from 1997 to 1999.

The company will appoint Vice President of Finance, Roxanne Oulman, to interim CFO, as an executive search for a successor is initiated. Oulman joined Thoratec in 2004 and was named VP Finance in 2010.

Thoratec did not provide a reason for Smiths departure.

The company reported last month that first-quarter earnings rose 23% on strong North American revenue.

Thoratec shares recently traded down 4.1% to $30.83. The stock is off 30% over the last 12 months, although it has risen about 9% so far this year.