Second Sight Medical Products Inc. announced Thursday the departure of Chief Executive Will McGuire, effective March 27.
The Sylmar-based visual prosthetics company has named Gregg Williams as acting chief executive; Williams is the company’s chairman.
John Blake, chief financial officer, and Pat Ryan, chief operating officer, will report to Williams while the company begins the process of searching for a new top executive.
McGuire chose to pursue an unnamed professional opportunity located closer to his family, Second Sight said in a statement. He will remain a director on the company board.
“I am extremely proud of the accomplishments we have achieved in the successful advancement of Second Sight’s breakthrough neuro-modulation technology, which has the potential to provide useful artificial vision to virtually all profoundly blind individuals,” McGuire said in a statement. “I remain excited for the opportunity to continue supporting the team in my role as a board member.”
McGuire has led the company in this role for four-and-a-half years. Prior to Second Sight, he held leadership positions at San Diego-based Volcano Corp. and Covidien in Minnesota, both medical device companies.
Shares of Second Sight (EYES) closed Friday down 28 cents, or 8.4 percent, to $3.06 on the Nasdaq.