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This article was originally published in The Gray Sheet

Executive Summary

Abiomed resignation: Chief Financial Officer Daniel J. Sutherby left the cardiac assist device firm Oct. 1, according to an Oct. 2 Securities and Exchange Commission filing, which identifies Ian McLeod, Abiomed's corporate controller, as acting CFO. On the following day, the company reaffirmed its fiscal year 2009 revenue guidance of $75-$80 million, up from $58.9 million in fiscal 2008. While the resignation is "not ideal," said Morgan Stanley device analyst David R. Lewis, it is probably more reflective of changing strategic needs in the company following the June launch of the Impella 2.5 assist device (1"The Gray Sheet" June 9, 2008, p. 20), rather than "any ominous development.
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