Korr Medical Technologies, Inc. (the "Company") announced today that on November 3, 2009, the board of directors (the "Board") of the Company removed Scott A. Kofoed, PhD as Chief Executive Officer and President of the Company, and terminated Dr. Kofoed's employment with the Company. Dr. Kofoed remains a director of the Company, but a majority of Company shareholders have taken action to remove Dr. Kofoed as a Company director, which removal will become effective on November 13, 2009.
Dr. Kofoed is a founding partner of Korr Medical Technologies whose involvement has been vital to the quality of Korr's products and to the success of the company. His contribution will always be remembered and appreciated.
