Ann: Additional response to articles in 'Margin Call', page-205

SR is highly qualified - he was recruited for the job based on that. SR did not need to do this. He knows the medical markets in Asia better than any of the board or other senior staff. SR also knows how things work in the US and Europe.

SR's has helped the company make progress in India. People have unrealistic expectations of how long it takes to enter such a large country with so many jurisdictions (50) and disparate health services. I have made comments on this before but as we know approval to sell does not translate to sales automatically.
We have seen signs of traction since SR came on board with various significant hospitals and healthcare networks. The team has been getting into the medical community in India and we have started to see papers from clinicians. The current most common approach to many injuries and burns in India is do nothing as the costs are prohibitive. PNV needs to change that mindset - no small task..
This is how it started in the US and Europe and we know how long that took to get traction. Even with Ed G dedicated to the sales effort in the US.
I am afraid this momentum in India will slow for a while now as I truly believe that SR was the champion of this market

SR has run the day to day captaincy for things like the new manufacturing expansion, the R&D streamlining and refocus for Hernia and Breast, and the rehabilitation of the DFU trial to get it back on track.
There was also the matter of creating more product options to meet the demand in non-burn applications with MTX and BTM. This change to more small devices is what caused the dip in growth dollars but will allow the market to keep growing well beyond the BTM application space.
SR has started to provide more discipline in the management team and has improved quality and post market surveillance staffing to ensure the regulatory risks are addressed. In med device manufacturing this stuff is often not thought about or seen and a "priority" but not doing it well can kill a company (Integra anyone?)

SR has created a more stable and safe internal culture (we have heard reports of distress from staff on learning of his departure). SR has travelled regularly to Aus for meetings and team activities. Being in the US is pretty sensible IMO as that is our largest market at present.

SR has purportedly stood up to the Chair and the board when it counted. Remember it was not SR who received the training. It was people who should know better.

So I think SR was a very good CEO for what is now and international company and has been done a great disservice. I don't know if he will go quietly into the night but I would vote to have him stay if there was a choice.