Kensey Nash Corporation (Kensey) announced that Jeffrey C. Smith, partner and portfolio manager of Ramius LLC, resigned from its board of directors. Smith became a director of Kensey in December 2007 and was a member of the corporate governance and nominating committee as well as a member of the strategic planning committee. Smith said that he has resigned from the board and board committees given time constraints and other responsibilities that demand his attention.
“On behalf of the Board, I would like to thank Jeff for his service and contributions to Kensey Nash and wish him well with his future endeavors,” stated Joe Kaufmann, president and chief executive officer.
“Over the past 14 months, the Company has accomplished a great deal in a relatively short period of time including successfully executing on the sale of the Endovascular products segment and materially increasing cash flow and earnings,” commented Jeff Smith. “At this time, I must shift my focus to other opportunities which demand my attention. I enjoyed serving on the Board of Directors and look forward to monitoring the Company’s continued success.”