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HOUSTON, June 30, 2015 /PRNewswire/ -- Millar, Inc., a leader in catheter-based and wireless pressure sensing technology, today announced the 2016 retirement of Craig Thummel, President/CEO and member of the Board of Directors, after 12 years of service to the Company. The Company also announced its leadership succession plan and named two senior members of the Executive Management team as his successors. The Board of Directors has elected Tim Daugherty, currently Director of Sales and Marketing, as President, and also a member of the Board of Directors. In addition, Anne Stoker, currently Director of Manufacturing, has been elected Chief Operating Officer. Both appointments are effective July 1, 2015.

"On behalf of the board and the Millar family, we would like to thank Craig Thummel for his leadership and guidance of Millar, Inc. He deserves particular credit for guiding the formation of the current management team. It is arguably the best in the history of the Company and is a group that, along with the rest of the dedicated workers of Millar, is ready and able to face the challenges of the future as Millar continues to prosper and grow," said Russell Millar, Chairman of the Board of Directors. Under Craig's leadership Millar has experienced continuous year-over-year growth, launched innovative products in the cardiovascular and life sciences markets and strengthened the Company's strategic business partnerships, including the acquisition of Auckland-based Telemetry Research, Ltd.

Over the past 12 years, Tim Daugherty has been integral to achieving Millar's strategic goals. Through his leadership in Sales and Marketing and a commitment to advancing product development within the clinical cardiovascular and telemetry markets, he has helped position the Company for future growth. His vision will expand the Company's clinical presence in the U.S. and abroad, while upholding Millar's mission to improve patient outcomes through the development of basic science technology platforms and advanced clinical monitoring devices.

Anne Stoker has served a variety of roles during his 12-year tenure at Millar, including Manufacturing Engineer and Director of Manufacturing. During this time, he leveraged his experience at Cordis, a Johnson & Johnson Company, to streamline Millar's OEM manufacturing operation, enabling rapid year-over-year growth and reducing manufacturing costs. As COO, he will continue to oversee Manufacturing and Operations, while focusing on implementing lean manufacturing principles and preparing the Company for future growth through product development and continuous process improvement.

"Tim and Anne have proven track records at Millar and are ready to assume these new responsibilities. The Board is very excited and confident about the future of Millar under their leadership," stated Craig Thummel. He added that these promotions are particularly gratifying and validate the Company's culture of hiring talented people and providing them with career growth opportunities.

About Millar, Inc.
Since 1969, Millar, Inc. has led the development of catheter-based, solid-state pressure sensors and is known worldwide as the leader in physiologic pressure measurement. Today the company's pressure, PV loop and telemetry systems enable medical discovery in life sciences, while its Mikro-Cath^TM pressure catheter and the CD Leycom® Inca® PV loop system are used by cardiologists performing advanced cardiovascular diagnosis and medical research.

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SOURCE Millar, Inc.