People In Brief
This article was originally published in The Gray Sheet
Executive Summary
David Jenkins returns as EP MedSystems CEO: EP MedSystems Chairman and Founder David Jenkins is named president, CEO and COO after the board of directors fires Reinhard Schmidt for "cause." An internal audit found that Schmidt made inaccurate statements to the Department of Commerce and the U.S. Attorney's Office for the District of New Jersey during an investigation into the firm's product sales to Iran, which are forbidden by U.S. law. The government is also investigating the accuracy of statements certified and authorized by Schmidt. No financial irregularities have been discovered. Jenkins, who served as EP MedSystems' CEO from 1993-2002, headed up gastric electrical stimulation device developer Transneuronix before Medtronic acquired it for $260 mil. in July (1"The Gray Sheet" July 4, 2005, p. 10)...