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ABIOMED rejects director's resignation after proxy firm flags low attendance

ABIOMED Inc. said its board unanimously rejected the resignation of Eric Rose as a director after he was flagged for poor attendance in attending board meetings.

The resignation came after shareholders voted to oust Rose. Proxy firm Institutional Stockholder Services had recommended that shareholders withhold their vote regarding Rose's nomination since he attended less than 75% of the meetings of the board and the audit committee without giving an acceptable reason.

The Danvers, Mass.-based medical device maker said Rose had legitimate reasons for missing three board meetings and that it did not reflect a lack of commitment to his work.

As a result, Rose will continue to serve as a class II director of the company until 2021 or the appointment of a qualified successor.

The company added that Rose has committed to attend at least 90% of the meetings of the board and the audit committee going forward.