This excerpt taken from the EYE 8-K filed May 26, 2006.
Former Chairman, William Grant, Remains Member of Board
(SANTA ANA, CA), May 25, 2006 The board of directors of Advanced Medical Optics, Inc. (AMO) [NYSE: EYE], a global leader in ophthalmic surgical devices and eye care products, today announced that it has named AMO director, president and chief executive officer, James V. Mazzo, 49, to also be chairman of the board.
Mazzos appointment follows the decision by the companys former chairman, William R. Grant, 81, to step down. Mr. Grant, who had served as the companys chairman since its spin-off from Allergan, Inc. in June 2002, remains a member of AMOs board of directors.
It has been an honor to serve AMO as chairman, said Mr. Grant. During the past four years, AMO has proven its dedication to enhancing shareholder value through disciplined execution of a strategy to help the world achieve better vision. Today, the company has a seasoned management team, a strong global organization and leading positions in its industry. I believe this is an ideal time for me to step aside and transition the chairmanship to Jim Mazzo. I am confident in his ability to guide the board and AMO to an even brighter future.
Mr. Mazzo has served as AMOs president and chief executive officer since June 2002. Under his leadership, the company has nearly doubled its annual revenue to approximately $1 billion and improved its earnings power through a series of strategic acquisitions and growth initiatives.
On behalf of the board of directors, management team and 3,500 employees across the globe, I want to thank Bill Grant for his leadership during these first critical years of our companys independence, said Mr. Mazzo. His experience, wisdom and professionalism have been invaluable to me and everyone else associated with the AMO organization.
AMOs board also announced that the independent directors have named James O. Rollans, 63, to be presiding director. In addition to other responsibilities, Mr. Rollans will routinely preside over executive sessions and board meetings when the chairman is not present. A former director and executive of Fluor Corporation, Mr. Rollans has served as an AMO director and chairman of its Audit and Finance Committee since June 2002.