Two Top Executives Resign From Trimedyne
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Seven months after selling his company to Trimedyne Inc. and becoming its chief executive, William J. Schubert Jr. has left the Irvine medical laser maker for reasons the company would not disclose.
Trimedyne said in a press release Wednesday that Schubert resigned his management post and his seat on the board as vice chairman. In addition, Shane H. Traveller resigned as president and chief operating officer after 16 months in those positions.
Schubert, who sold his Mobile Surgical Technologies Inc. to Trimedyne for about $750,000 in stock, was unavailable for comment.
Company founder Marvin P. Loeb, its chairman, assumed the duties of president and chief executive. He said that the departures of Schubert and Traveller were “no big deal.”
Trimedyne stock lost 10 cents to close at $1.10 a share on Nasdaq.
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