On May 14, 2018, Andrew D. C. LaFrence, Vice President and Finance and Information Systems, and Chief Financial Officer of Surmodics, Inc. resigned from his positions with the company, effective May 25, 2018. On May 16, 2018, the company's Board of Directors appointed Timothy J. Arens as the company's interim Vice President, Finance, and Chief Financial Officer, and principal financial officer, effective upon Mr. LaFrence's resignation. During this interim period, Mr. Arens, 50, will continue to serve as the company's Vice President, Corporate Development and Strategy, a role in which he has served since February 2013.

Previously, from August 2011 to February 2013, Mr. Arens has served as the company's Vice President of Finance and interim Chief Financial Officer. Also on May 16, 2018, the Board appointed John D. Manders, 37, as the company's Corporate Controller, and principal accounting officer, effective upon Mr. LaFrence's resignation. Mr. Manders joined the company in 2017 as Director and Corporate Controller.

Prior to joining the company, since 2004, Mr. Manders served with the accounting firm Deloitte & Touche LLP, most recently as an Audit Senior Manager.