Accuray Incorporated CFO Resigns
Accuray Appoints Successor
SUNNYVALE, Calif., Sept. 3, 2013
SUNNYVALE, Calif., Sept.3, 2013 /PRNewswire/ --Accuray Incorporated (Nasdaq:
ARAY), announced today that Derek Bertocci has resigned as Senior Vice
Presidentand Chief Financial Officer of the company effective September 2,
2013. Today, Accuray has appointed Gregory Lichtwardt, executive vice
president, chief financial officer, effective immediately. Mr. Bertocci is
anticipated to continue in a consulting role with the Company.
Mr. Lichtwardt, age 59, joins Accuray after spending over nine years with
Conceptus Inc., where he served as Executive Vice President, Chief Financial
Officer. During his time at Conceptus Inc., its sales grew from $8 million to
$141 million andadjusted EBITDA reached 20percent of sales.
Lichtwardt brings to Accuray thirty-three years of financial and operational
leadership experience in building technology companies. Prior to joining
Conceptus Inc., he served as Executive Vice President, Chief Financial Officer
and Corporate Secretary of Innoventry, Inc., a financial services company. He
was previously with Ocular Sciences, Inc. a world-wide developer and marketer
of soft contact lenses, as Vice President, Finance and Chief Financial
Officer, a company which he took public. Prior to that, Mr. Lichtwardt held
senior management positions with Allergan, Inc. and started his career with
American Hospital Supply Corporation. Mr. Lichtwardt also serves on the board
of directors of Biolase, Inc., where he is the chair of the audit committee
and participates on the compensation committee.
Commenting on his appointment, Mr. Lichtwardt said, "This is an exciting time
to be joining Accuray. The Company has made significant strides, is led by a
talented team and is positioned to achieve significant growth. I am energized
by the challenge and look forward to contributing to the Company's success and
drive to profitability."
In making the announcement, Joshua H. Levine, president and chief executive
officer of Accuray said, "Greg brings broad medical device industry experience
and important leadership skills that will drive the planning and execution of
our financial strategies. In addition, Greg will play a significant role at
Accuray as we pursue long-term strategic growth opportunities. We are
delighted to have Greg join the Accuray team at this pivotal point in our
evolution. His experiences will prove invaluable as we expand our commercial
footprint and shareholder value. I would also like to thank Derek Bertocci for
his leadership and guidance over the years at Accuray."
Bertocci had joined Accuray in January2009 as CFO and during his tenure,
Bertocci helped to expand the radiosurgery market with the Company's flagship
product, the CyberKnife System. He was also a key leader of the company
through the growth of Accuray as a young public company and through the
transformational acquisition of TomoTherapy in 2011. The acquisition of
TomoTherapy added the TomoTherapy System to the Company's product portfolio,
which expanded the Company into the radiation therapy market.
"I want to thank the Executive Team, the Board, the investors and Accuray
employees for their support and encouragement over the last several years as
we together changed the way people think about treating cancer patients," said
Bertocci. "It's been a fulfilling experience, but I feel that after being CFO
for almost five years at Accuray and a CFO at various companies for almost ten
years that taking a break in my career and taking time to spend with my family
Accuray Incorporated (Nasdaq: ARAY), is a radiation oncology company that
develops, manufactures and sells personalized, innovative treatment solutions
that set the standard of care with the aim of helping patients live longer,
better lives. The Company's leading-edge technologies deliver the full range
of radiation therapy and radiosurgery treatments. For more information, please
Safe Harbor Statement
Statements made in this press release that are not statements of historical
fact are forward-looking statements and are subject to the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements in this press release relate, but are not limited
to management/leadership capabilities, future profitability, long-term growth,
commercial success, shareholder value, and the Company's leadership position
in radiation oncology innovation. Forward-looking statements are subject to
risks and uncertainties that could cause actual results to differ materially
from expectations, including risks detailed from time to time under the
heading "Risk Factors" in the company's report on Form10-K filed on
August29, 2013. Forward-looking statements speak only as of the date the
statements are made and are based on information available to the Company at
the time those statements are made and/or management's good faith belief as of
that time with respect to future events. The Company assumes no obligation to
update forward-looking statements to reflect actual performance or results,
changes in assumptions or changes in other factors affecting forward-looking
information, except to the extent required by applicable securities laws.
Accordingly, investors should not place undue reliance on any forward-looking
SOURCE Accuray Incorporated
Contact: Lynn Pieper, Investor Relations, +1 (415) 202-5678,
Lynn.firstname.lastname@example.org; Rebecca Phillips, Public Relations Manager, +1
(408) 716-4773, email@example.com
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