Advanced visualization firm Vital Images president and CEO Jay Miller has resigned, and will be replaced by chief operating officer (COO) and chief financial officer (CFO) Michael Carrel.
Chairman Douglas Pihl said that Vital Images' board and Miller mutually agreed that the time is right for new leadership at the company. Miller, who has been CEO for the past six years, will remain on the Minneapolis-based firm's board until the May 2008 annual shareholders meeting.
Carrel joined Vital Images in January 2005, and was named COO and CFO that May. With Carrel's promotion, vice president of finance and accounting Peter Goepfrich has been promoted to CFO.
In other Vital Images news, the company is reaffirming its revenue guidance for 2007. Revenue is expected to be approximately $68 million to $72 million, with earnings anticipated to be between 5¢ and 18¢ per share. Those earnings exclude, however, the impact of a severance charge of approximately $1 million in connection with the management change.
Full 2007 financial results will be released on February 21, according to the firm.
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