WILMINGTON, Mass.–(BUSINESS WIRE)–Accellent, a leading provider of outsourced precision manufacturing and engineering services to the medical device industry, announced today that effective November 13, 2009, Robert E. Kirby is leaving the company. Mr. Kirby has accepted a position with a consumer products firm, marking his return to an industry in which he had served for much of his career prior to joining Accellent. A comprehensive search is underway to identify the next Chief Executive of Accellent.
Kenneth W. Freeman, Accellent’s Executive Chairman since December 2006, will be actively involved with the management of the Company until the search and appropriate transition are complete. Mr. Freeman is a member of the general partner of Kohlberg Kravis Roberts & Co. Prior to joining KKR in 2005, Mr. Freeman served as Chairman and CEO of Quest Diagnostics Incorporated and its predecessor company from 1995 to 2004.
“Accellent’s people are exceptionally talented and dedicated, and it has been a great privilege to work alongside them. I am proud of what we have accomplished together,” Mr. Kirby commented. “I have never been more confident in the Company’s future. As I return to the industry to which I have devoted over 25 years of my career, I leave the Company in the hands of an outstanding, highly experienced management team.”
Mr. Freeman stated, “On behalf of the Board of Directors and principal shareholders of Accellent, we wish to extend our sincere appreciation for Bob Kirby’s contribution. During Bob’s tenure, the Company’s profitability and cash generation markedly improved as a result of a significant focus on driving operational improvements. Bob also helped to strengthen the Company’s management team, and the Board is confident that this team will continue to build on its achievements now and in the future, with the addition of a new CEO.” Mr. Freeman added, “The Company is poised to take advantage of its industry leadership position and manufacturing and engineering capabilities to accelerate growth.”