Endologix Chairman to Retire Endologix Inc. in Irvine, Calif., is losing its chairman o

Endologix Chairman to Retire
Endologix Inc. in Irvine, Calif., is losing its chairman of 15 years, Franklin D. Brown. He officially will retire May 24, the date of the company’s annual shareholder meeting. Taking his place as board chairman is John McDermott, who also serves as the company’s CEO.

The outgoing chairman began his executive career in the medical technology industry in 1986 with Pharmacia Deltec Inc., an ambulatory drug delivery company, where he served as president and CEO. Pharmacia was sold in 1994 to the UpJohn Company, and is now owned by Pfizer. That same year, Brown left to serve as president, chairman and CEO of Laguna Niguel, Calif.-based Imagyn Medical Inc. until its sale three years later to Imagyn Medical Technologies Inc., a developer and manufacturer of products for the urology, minimally invasive and general surgery, and gynecology markets. In 1997, Brown joined Endologix when it was still a private company, first as a director and then as CEO and chairman. He was elected executive chairman in January 2003.

Brown has distinguished himself in the field, earning industry recognition. In 1991, he received an Ernst & Young Entrepreneur of the Year Award for the Midwest region for the success of Pharmacia Deltec Inc., an ambulatory drug delivery company, and in 2001 was awarded Director of the Year for his contribution to corporate governance. He holds a bachelor’s degree from Western Michigan University in Kalamazoo and a master’s degree from the University of Michigan.

In a statement, Brown expressed confidence that Endologix would be in good hands with McDermott at the helm.

“I have been privileged to be involved in the success of Endologix and the timing of this announcement is consistent with my long-term plans for retirement,” he said. “The company has achieved strong growth and substantially enhanced its new product pipeline under the leadership of John McDermott and the current board of directors, giving me high confidence that the company remains in good hands.”

McDermott returned the compliment: “We would not be in the strong position we are today without [Brown’s] leadership and strategic guidance.”

McDermott has been CEO and president of Endologix since May 2008. Like Brown, his medtech career has spanned two decades. His specific experience in the vascular sector will continue to be a valuable asset to Endologix, a provider of vascular medical devices, going forward, according to industry analysts. He has, in the past, served on the boards of the Phoenix, Ariz.-based International Society of Endovascular Specialists and the Vascular Disease Foundation, based in Vienna, Va. He was president of C.R. Bard Inc.’s vascular division between 2002 and 2007, which is when he joined Endologix. Having earned his bachelor’s degree in finance from Western International University in Phoenix, Ariz., and having spent time as a broker, chief credit officer, and chief financial officer at various points in his career, he also is expected to bring financial savvy to the table when he assumes the job on May 24. McDermott also holds a master’s degree in marketing and international business from Western International University.