STERIS Announces Plans for President and CEO Transition and Retirement

MENTOR, Ohio -- STERIS Corporation today announced that Les C. Vinney, president and CEO since 2000, will step down from those roles and as a member of the board of directors by June 1, 2007. After appointment of a successor, Vinney will continue to support the company as special advisor until his retirement in 2009. STERIS announced this mutually agreed transition process to allow a smooth transfer of Vinney's responsibilities and will begin an immediate search for a new president and CEO. This transition is consistent with Vinney's desire to eventually have more time to pursue other goals and interests at this stage of his career, and the company's development and direction.

John P. Wareham, chairman of the STERIS board of directors, noted, "Under Les' leadership, many organizational and operational improvements have been made and new businesses and markets have been opened, which have positioned the company to take advantage of the many opportunities that exist for STERIS. We are very appreciative of Les' many contributions at STERIS and his continued willingness to support the company's objectives, and we wish him every future success and happiness."

The board has formed a search committee to implement the search process for a successor. Additionally, a transition committee appointed by the board and led by Wareham will work with Vinney during the transition process to facilitate a smooth transfer of responsibilities. Wareham further commented, "We expect our succession plan process will support STERIS's continuing efforts to build on its remarkable past and achieve even greater successes in the future."

Vinney commented, "It has been my distinct pleasure to serve STERIS in various leadership roles during a period that has positioned the company as a $1.2 billion global leader in the rapidly developing areas of infection control, decontamination and health sciences. I am proud of the many accomplishments achieved and the shareholder value created by my 5,000 STERIS colleagues over the past seven years. The company is now well positioned for a new leader to take it to new heights."

Vinney joined STERIS in August 1999 as senior vice president and chief financial officer, and was elected senior vice president of finance and operations in October 1999. He was named president and CEO in March 2000, and president and CEO in July

2000. Prior to joining STERIS, Vinney served as senior vice president and chief financial officer of the BF Goodrich Company.

Source: STERIS

 

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