Cardiac Science, a provider of cardiac diagnosis, resuscitation, rehabilitation and informatics products, reported that its board of directors accepted the resignation of two directors, and appointed a new director, at its regularly scheduled meeting last week. As a result of the changes, the total number of directors on the board will be seven.
The company said that the resignations of Jeffrey F. O’Donnell, Sr. and Ray E. Newton III, which were effective Nov. 6, did not result from any disagreements with the company. O’Donnell decided to leave the board due to his time commitments as CEO of PhotoMedex.
Newton elected to leave the board as he is no longer employed with Perseus, the largest investor in Cardiac Science, which has the right to designate one director for election to the company's board under the terms of a senior note and warrant conversion agreement entered into in connection with the 2005 merger of Cardiac Science and Quinton Cardiology Systems, according to the Bothell, Wash.-based company.
The board appointed Christopher J. Davis, senior managing director, chief operating officer and chief financial officer of Perseus, to fill one of the vacancies on the board. The company said that Davis joined Perseus, a equity fund management company, in 2007. Prior to that, he spent six years at Safeguard Scientifics, a holding company of growth-stage technology and life sciences businesses.