Replaces James Stolze Who Will Retire at Year End
ST. LOUIS, Aug. 6 /PRNewswire-FirstCall/ -- Stereotaxis, Inc. (Nasdaq:
STXS) today announced that its Board of Directors has named Daniel J. Johnston
(51), as its new Chief Financial Officer, effective November 15, 2009. He
will join Stereotaxis in September, 2009 and replace James M. Stolze (66),
Stereotaxis' current Chief Financial Officer, who will retire from the Company
effective at year end 2009. Mr. Johnston brings over 15 years of senior
financial management experience, including the position of chief financial
officer at three manufacturing companies with revenues of $1 billion or more.
"Dan has a wealth of corporate management and financial experience with
growing industrial and consumer products companies," said Michael P. Kaminski,
President and Chief Executive Officer of Stereotaxis. "He is a hands-on
operational manager with strong financial and organizational skills. His
experience ranges from creating organizations and processes in a start-up
phase, to financial structuring in both the public and private markets and
management of a broad range of domestic and international organizations. We
are very excited that Dan has agreed to join Stereotaxis and believe he will
be instrumental in taking Stereotaxis to the next level."
"I would also like to thank Jim Stolze for his many contributions to
Stereotaxis. During the more than five years that Jim has served as CFO of our
Company, he has been a key player in our success in driving revenue, reducing
expenses and enhancing efficiencies in the organization. We are very pleased
that Jim has agreed to serve as a consultant for Stereotaxis through June
2011," Mr. Kaminski concluded.
Mr. Johnston currently serves as the Executive Vice President and Chief
Financial Officer of United Components, Inc., a Carlyle Group portfolio
company that manufactures automobile parts primarily for the after-market
channels, a position he has held since 2007. Prior to this, he was Vice
President and Chief Financial Officer of Solae Company, a food science and
ingredient manufacturer. Before joining Solae in 2006, Mr. Johnston spent 11
years, including eight as CFO, at United Industries, a manufacturer of
diversified consumer packaged goods. Mr. Johnston has a B.S. degree from the
University of Missouri and is a certified public accountant.
About Stereotaxis
Stereotaxis designs, manufactures and markets an advanced cardiology
instrument control system for use in a hospital's interventional surgical
suite to enhance the treatment of coronary artery disease and arrhythmias. The
Stereotaxis System is designed to enable physicians to complete more complex
interventional procedures by providing image guided delivery of catheters and
guidewires through the blood vessels and chambers of the heart to treatment
sites. This is achieved using computer-controlled, externally applied magnetic
fields that govern the motion of the working tip of the catheter or guidewire,
resulting in improved navigation, shorter procedure time and reduced x-ray
exposure. The core components of the Stereotaxis System have received
regulatory clearance in the U.S., Europe, and Canada and elsewhere.
About Forward-Looking Statements
This press release includes statements that may constitute
"forward-looking" statements, usually containing the words "believe,"
"estimate," "project," "expect" or similar expressions. Forward-looking
statements inherently involve risks and uncertainties that could cause actual
results to differ materially from the forward-looking statements. Factors that
would cause or contribute to such differences include, but are not limited to,
continued acceptance for the Company's products in the marketplace,
competitive factors, changes in government reimbursement procedures,
dependence upon third-party vendors, and other risks discussed in the
Company's periodic and other filings with the Securities and Exchange
Commission. By making these forward-looking statements, the Company undertakes
no obligation to update these statements for revisions or changes after the
date of this release. There can be no assurance that we will recognize revenue
related to our purchase orders and other commitments in any particular period
or at all because some of these purchase orders and other commitments are
subject to contingencies that are outside of our control. In addition, these
orders and commitments may be revised, modified or canceled, either by their
express terms, as a result of negotiations, or by project changes or delays.
SOURCE Stereotaxis, Inc.
-0- 08/06/2009
/CONTACT: Company, Jim Stolze, Chief Financial Officer of Stereotaxis,
Inc., +1-314-678-6105; or Investors, Douglas Sherk or Jenifer Kirtland,
+1-415-896-6820, or Media, Steve DiMattia, +1-646-201-5445, all of EVC Group,
Inc., for Stereotaxis, Inc./
/Web Site: http://www.stereotaxis.com /
(STXS)
CO: Stereotaxis, Inc.
ST: Missouri
IN: HEA MEQ MTC
SU: PER
PR
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9370 08/06/200906:15 EDThttp://www.prnewswire.com