Continuation of CEO Employment ContractSydney AUSTRALIA 19 May...

Continuation of CEO Employment Contract
Sydney AUSTRALIA 19 May 2008: Ventracor Limited (ASX:VCR) today announced the
extension of the employment agreement of its Chief Executive Officer, Mr. Peter Crosby, until
30 June 2009. Current terms, conditions and remuneration as previously disclosed will
continue to apply under the extension and have been independently assessed as market
appropriate.
Mr. Crosby was appointed to the role of CEO with a 2 year contract from 1 July 2006. Prior to
that, he was the Company’s Chief Operating Officer since January 2005. Mr. Crosby has
more than 25 years’ experience in the global commercialisation of cardiac medical devices.
The Chairman of the Board of Ventracor, Mr. John Ward, said “The Company continues to
work hard on the transition from an organization focused on building a product to an
organization focused on building a business, and from a purely Australian company to a
leading global medical device company. Mr. Crosby’s experience and detailed understanding
of our business uniquely qualifies him to lead the company through these challenging times.
The Board is confident that Mr. Crosby’s ongoing contribution is a key factor in enabling the
Company to successfully achieve its commercial objectives, including targeted new product
development and rapidly building momentum in its major US clinical trials over the coming
year.”
The Company’s Chief Executive Officer, Peter Crosby said “I am very excited to continue to
lead our highly skilled international team at Ventracor throughout the next financial year. The
support from the Board and the key executive team is very pleasing, and I am optimistic about
our future success.”
Before joining Ventracor, Mr. Crosby was President and CEO of Ischemia Technologies, a
US-based company which developed a new diagnostic test for cardiac ischemia. Mr. Crosby
holds a Bachelor of Engineering (Electrical) and a Masters of Engineering Science from the
University of Melbourne and was one of the pioneering team at Cochlear.