Tuesday April 15 11:10 AM EDT
Summit Announces New CEO
WALTHAM, Mass., April 15 /PRNewswire/ -- Summit Technology Inc announced today that Mr. Robert J. Palmisano has
been elected as Summit's chief executive officer and a member of the Board of Directors. Mr. Palmisano most recently served
as senior vice president of Bausch & Lomb, Inc. and president of its Eyewear Division, where he was responsible for growing
the business significantly in eight years.
In making the announcement, Mr. Richard Traskos, Summit's chairman said, "Mr. Palmisano brings broad management
experience and a strong record of building revenues and profits in related businesses. His record of success is impressive and
we look forward to him bringing his leadership and energy to the Company.
"On behalf of the Board, I want to thank Verne Sharma and the other members of Summit's senior management team for
guiding the Company through a very turbulent and difficult six month period. Mr. Sharma will continue as president with
primary focus on the Company's ophthalmic laser business."
Founded in 1985, Summit Technology is a leading developer, manufacturer and marketer of ophthalmic laser systems designed
to correct common vision disorders such as nearsightedness, farsightedness and astigmatism. In 1995, Summit was the first
excimer laser company to receive FDA approval for its Apex excimer laser system for the correction of mild to moderate
myopia in the U.S. In addition, through its wholly owned subsidiary, Lens Express, Summit sells contact lenses and related
products.
Cautionary Statement Under "Safe Harbor" Provisions Of The Private Securities Litigation Reform Act Of 1995: Statements
made in this news release contain information about the Company's future business prospects. These statements may be
considered "forward-looking". These statements are subject to risks and uncertainties that could cause actual results to differ
materially from those set forth in or implied by such forward-looking statements. For further information regarding cautionary
statements and factors affecting future operating results, please refer to Summit's annual report on Form 10-K for the year
ended December 31, 1996. SOURCE Summit Technology, Inc. |
