Maharaj will also serve as a member of company’s board of directors.

Maharaj, who most recently served as president and CEO of Arizant, will replace Philip Ankeny who has served as SurModics‘ interim CEO since 1 June 2010.

Ankeny will continue to serve as the company’s senior vice president and chief financial officer.

Gary Maharaj said he was excited to join SurModics at this pivotal time in the company’s history and his immediate priority will be to work with the board, management team and SurModics’ employees to drive improved operating and financial results across the organization, return to profitable growth and build value for all of their stakeholders.

During his tenure in the medical device industry, Maharaj has also served as vice president of Philip Adam and Associates, a product development management consulting firm, and in various management and research positions for the orthopedic implant and rehabilitation divisions of Smith & Nephew.