Management changes at Given Imaging Ltd. (Nasdaq: GIVN; TASE: GIVN) are continuing. A few months ago, Given Imaging president and CEO Dr. Gavriel Meron resigned, and Nachum Shamir was appointed in his place. Today, another executive has resigned: Given Imaging VP business development Yoram Ashery. He no longer appears on the list of managers on company’s website, even though his resignation will only come into effect in three months. The company confirmed the report.
Sources close to the company say Ashery’s departure are unrelated to Meron’s resignation. Until early this year, in his capacity as VP business development, Ashery was responsible for relations with investors, a position he held since mid-2001. In early 2006, he took over a much broader role: VP responsible for the company’s colon capsule. When he was appointed to this post, it was presumably assumed that development of this capsule would be rapid, but actual development has been slower than expected. A lawyer by training, Ashery was a partner in the Zellermayer, Pelossof & Co. law firm.
Given Imaging develops diagnostic technology for the small intestine and esophagus, and hopes to develop diagnostic solutions for the entire digestive tract. Patients swallow endoscopic capsule that sends images to the doctor’s work station. The company’s market cap is $430 million.
Published by Globes [online], Israel business news - www.globes.co.il - on July 3, 2006
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