Stereotaxis Loses CEO, Launches Search for Replacement

Michael Kaminski is changing careers. The Stereotaxis Inc. CEO is leaving his post on April 12 to become division president of a company in an unrelated field.

The Stereotaxis board has created a temporary chief executive office, and appointed a team to manage the job while a replacement is found. Chairman William Mills III will serve as interim CEO, with Director Euan Thomson, Ph.d., providing support and guidance in certain areas to ensure a seamless transition to new company leadership. A senior executive committee will augment the team by representing the company’s various business segments. Meanwhile, the board has recruited an executive search firm to launch a comprehensive effort to find a successor to Kaminski.

“I have treasured the opportunity to work alongside some of the brightest minds in the industry who have responded to the needs of the market with unique, transformative solutions,” said Kaminski, who intends to stay on as an advisor until October of next year.

Kaminski joined Stereotaxis in 2002 as chief operating Officer (COO), was appointed president and COO in 2007, and then CEO in January 2009. During his four years as CEO, the company expanded the commercialization of its technology platform, generated double-digit revenue growth and improved its operating loss by more than 74 percent.

“Mike has provided critical, visionary leadership during the company’s emergence to major commercial player in the electrophysiology market,” said Mills.

Mills has served on the Stereotaxis board of directors since June 2000 and was elected chairman in May 2012. He has more than 30 years experience as a venture capitalist with an emphasis on science-based medicine and medical technology. Mills currently serves as a director on a number of venture capital, corporate and advisory boards in addition to his role with Stereotaxis. He holds graduate degrees in chemistry and in management from Massachusetts Institute of Technology (MIT) in Cambridge, Mass., and an A.B. in chemistry from Princeton University in Princeton, N.J.

“The Stereotaxis board has an abiding confidence in and commitment to the company’s technology and long-term vision, and we are resolved to ensure effective leadership that will continue to deliver expanding value to each of our stakeholders,” Mills concluded.

Based in St. Louis, Mo., Stereotaxis develops robotic cardiology instrument navigation systems designed to enhance the treatment of arrhythmias and coronary disease, as well as information management solutions for the interventional laboratory.