EDAP TMS Announces Planned Management Succession
18 Mayo 2004 - 4:00PM
PR Newswire (US)
EDAP TMS Announces Planned Management Succession VAULX-EN-VELIN,
France, May 18 /PRNewswire-FirstCall/ -- EDAP TMS S.A. , a global
leader in the development, marketing and distribution of a
portfolio of minimally-invasive medical devices for the treatment
of urological diseases, today announced changes to the Company's
management based on its succession plan. Effective July 1, 2004 the
following changes will take place: -- Philippe Chauveau, the
Company's current Chairman and Chief Executive Officer, will step
down as the Company's CEO, however, he will remain as Chairman of
the Board; -- Hugues de Bantel, currently the president of the
Company's two operating divisions, will be promoted to Chief
Executive Officer of EDAP TMS and will remain as president of the
two operating divisions; -- Subject to shareholder approval, at the
annual shareholder's meeting to be held June 29, 2004, Hugues de
Bantel will be appointed as a director of the board of EDAP TMS; --
Ian Vawter, the Company's current Chief Financial Officer, after
three years in this position and seven years with the Company,
while not wishing to relocate to France, will step down from his
position as CFO; and -- Thierry Turbant, Controller and Treasurer
of EDAP TMS for four years and seven years with the Company will
take on the additional role of CFO of EDAP TMS and will report to
the CEO, Hugues de Bantel. Philippe Chauveau, Chairman and Chief
Executive Officer of EDAP TMS stated, "Today the Company, in
announcing its succession plan, begins the process of transferring
various management responsibilities in a rational and coordinated
manner. The Board of Directors of EDAP TMS fully supports this
transition which is part of the Company's total restructuring
strategy. Additionally, this will streamline and build on the
strength of the management of the Company." EDAP TMS S.A. is the
global leader in the development, production, marketing and
distribution of a portfolio of minimally invasive medical devices
primarily for the treatment of urological diseases. The Company
currently develops and markets devices for the minimally invasive
treatment of localized prostate cancer, using High Intensity
Focused Ultrasound (HIFU), through its EDAP SA subsidiary; it is
also developing this technology for the treatment of certain other
types of tumors. EDAP TMS S.A. also produces and commercializes
medical equipment for treatment of urinary tract stones using
Extra-corporeal Shockwave Lithotripsy (ESWL), via its TMS SA
subsidiary. In addition, the Company markets in Japan and Italy
devices for the non-surgical treatment of benign Prostate
Hyperplasia (BPH) using Microwave Thermotherapy (TUMT). For more
information, in the U.S., contact EDAP Technomed Inc., the
Company's U.S. subsidiary located in Atlanta, GA, by phone at (770)
446-9950. For additional information on the Company, please see the
Company's web site at: http://www.edap-tms.com/. This press release
contains, in addition to historical information, forward-looking
statements that involve risks and uncertainties. These include
statements regarding the Company's growth and expansion plans. Such
statements are based on management's current expectations and are
subject to a number of uncertainties and risks that could cause
actual results to differ materially from those described in the
forward-looking statements. Factors that may cause such a
difference include, but are not limited to, those described in the
Company's filings with the Securities and Exchange Commission.
CONTACT: Philippe Chauveau / Blandine Confort 33.4.72.15.31.50 Ian
Vawter - EDAP Technomed Inc. 1.770.446.9950 DATASOURCE: EDAP TMS
S.A. CONTACT: Philippe Chauveau, or Blandine Confort,
+33-4-72-15-31-50, Ian Vawter, +1-770-446-9950, all of EDAP
Technomed Inc. Web site: http://www.edaptechnomed.com/
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