Trimedyne Picks New President : Management: Formerly a consultant, Peter T. Hyde also becomes a director, chief operating officer.
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IRVINE — Trimedyne, a surgical laser manufacturer, said Thursday that it has chosen a company consultant to be its new president, filling the spot vacated when Howard Cooper left the company more than a year ago to found his own medical devices firm.
Peter T. Hyde, 47, will assume the day-to-day duties of president effective immediately, Trimedyne spokeswoman Kathy Price said.
Hyde also was appointed a director and the company’s new chief operating officer, a position left empty since former Chief Operating Officer Art Bertolero was demoted to vice president of marketing a year ago, Price said.
Chairman and Chief Executive Marvin P. Loeb had taken on the additional duties of president after Cooper left to found Cardiac Science Inc., an Irvine company that is working on a portable device to correct irregular heartbeats.
Hyde came to Trimedyne five months ago as a consultant, Price said. Before that, he was vice president of sales and marketing for Alcon Surgical Inc., a subsidiary of Swiss food giant Nestle SA.
Hyde has also handled marketing duties with the Extracorporeal Medical Specialties Division of Johnson & Johnson.
Trimedyne, based in Irvine, employs 84 people and had revenue of $11.4 million for its latest fiscal year. In Thursday’s trading on the NASDAQ market, its stock closed at $8.125 a share, down 50 cents.
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