Bard announces retirement of chief financial officer

Bard has announced that its senior vice-president and chief financial officer Todd Schermerhorn is to retire from the company next year.

Mr Schermerhorn, who has been with the firm since 1985, will step down from his position after a transition period running through to August 2012, during which time a successor will be elected.

During his 26-year career at Bard, he has occupied a variety of financial management positions, moving into the chief financial officer role in April 2003.

Timothy Ring, chairman and chief executive officer of the medical technology company, said Mr Schermerhorn's intelligence and insight has been of great benefit to Bard.

"His tireless commitment and passion for excellence has influenced our organisation across every function and at every level," he said.

Last month, the company reported its financial results for the second quarter of 2011, during which it was able to improve its net sales performance by eight percent year on year.