Endologix Chairman to Retire

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

Brown has served as executive chairman since January 2003, and before that was a director then CEO. He joined Endologix from Pharmacia Deltec Inc., an ambulatory drug delivery company. He is also on the board of directors at Interventional Spine Inc.

In a statement issued by the company, Brown expressed confidence that Endologix would be in good hands with McDermott at the helm. In return, McDermott said, “We would not be in the strong position we are today without [Brown’s] leadership and strategic guidance.”

Endologix is a developer and manufacturer of minimally invasive treatments for vascular diseases, with particular focus on abdominal aortic aneurysm (AAA) treatment technology.