Advanced Medical Optics (AMO) Inc.'s board of directors elected its director, president, and chief executive officer (CEO) James V. Mazzo to also be chairman of the board. Mazzo succeeds William R. Grant, who served as the company's chairman since its spin-off from Allergan Inc. in 2002. Grant remains a member of AMO's board.
Advanced Medical Optics (AMO) Inc.'s Board of Directors elected its Director, President, and Chief Executive Officer (CEO) James V. Mazzo to also be chairman of the board. Mazzo succeeds William R. Grant, who served as the company's chairman since its spin-off from Allergan Inc. in 2002. Grant remains a member of AMO's board.
"I believe this is an ideal time for me to step aside and transition the chairmanship to Jim Mazzo," said Grant. "I am confident in his ability to guide the board and AMO to an even brighter future."
Since Mazzo became president and CEO in 2002, AMO has nearly doubled its annual revenue to about $1 billion and improved its earnings power through a series of strategic acquisitions and growth initiatives, according to the company.
"On behalf of the board of directors, management team, and 3,500 employees across the globe, I want to thank Bill Grant for his leadership during these first critical years of our company's independence," said Mazzo. "His experience, wisdom, and professionalism have been invaluable to me and everyone else associated with the AMO organization."
The AMO board announced that the independent directors named James O. Rollans as presiding director. He will routinely preside over executive sessions and board meetings when the chairman is not present. Rollans has served as an AMO director and chairman of its Audit and Finance Committee since 2002.