WESTFORD, Mass., Sept. 13, 2016 /PRNewswire/ -- Cynosure, Inc. (NASDAQ: CYNO) today announced that Stephen J. Webber will join the Company on October 10, 2016 as Executive Vice President. Mr. Webber will then become Chief Financial Officer and Chief Accounting Officer effective upon the filing in November of Cynosure's Quarterly Report on Form 10-Q for the quarter ending September 30, 2016. He will succeed Timothy W. Baker, who in May announced his planned retirement from Cynosure to pursue philanthropic interests. Mr. Baker will serve in a consulting role during a transition period expected to continue through March 2017.
"Steve brings a 20-year record of financial leadership, multi-national business experience and strategic expertise to Cynosure," said President and Chief Executive Officer Michael Davin. "His success at EMC in areas such as acquisition integration and strategic planning helped drive bottom line results for multiple business units, including Virtustream. Steve's skills, knowledge and background make him an ideal person to advance the strong foundation of financial and operational excellence built under Tim's stewardship as CFO for the past 12 years."
Mr. Webber, 46, joins Cynosure from Virtustream, where he was Chief Financial Officer since 2015. He previously served in multiple financial leadership roles at EMC Corporation, Virtustream's former parent, which was acquired last week by Dell.
"I am delighted to join Cynosure and am excited to work with Michael and the other members of the leadership team, as we focus on continuing to deliver shareholder value through profitable growth," Mr. Webber said. "I have been privileged to be part of companies driven by an entrepreneurial spirit and an innovative, collaborative culture. Cynosure is just such an organization."
From 2012 to 2015, Mr. Webber was Senior Vice President of Finance and Operations at EMC, supporting the Global Enterprise Services organization. During a 19-year career at EMC, Mr. Webber was promoted to leadership positions of increasing responsibility, including corporate finance, international finance, sales finance and operations for Latin America and business partner roles supporting the Enterprise Software Division and Global Services. Before that, he spent four years at Deloitte & Touche LLP in Boston in the audit practice with a focus on public companies. Mr. Webber received a B.S. in accounting and an MBA from Babson College.
About Cynosure, Inc.
Cynosure develops, manufactures, and markets aesthetic treatment systems that enable plastic surgeons, dermatologists and other medical practitioners to perform non-invasive and minimally invasive procedures to remove hair, treat vascular and benign pigmented lesions, remove multi-colored tattoos, revitalize the skin, reduce fat through non-invasive and minimally invasive laser lipolysis, reduce cellulite, clear nails infected by toe fungus, ablate sweat glands and improve gynecological health. Cynosure also markets radiofrequency energy-sourced medical devices for precision surgical applications such as facial plastic and general surgery, gynecology, ear, nose, and throat procedures, ophthalmology, oral and maxillofacial surgery, podiatry and proctology. Cynosure's product portfolio is composed of a broad range of energy sources including Alexandrite, diode, Nd: YAG, picosecond, pulse dye, Q-switched lasers, intense pulsed light and radiofrequency technology. Cynosure sells its products globally under the Cynosure, Palomar, ConBio and Ellman brand names through a direct sales force in the United States, Canada, France, Morocco, Germany, Spain, the United Kingdom, Australia, China, Japan and Korea, and through international distributors in approximately 120 other countries. For corporate or product information, visit Cynosure's website at www.cynosure.com.
This press release contains forward-looking statements, within the meaning of the federal securities laws, about our business prospects and management transition. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes," "plans," "intends," "expects," "goals" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these words. Our future results may differ materially from our past results and from those projected in the forward-looking statements due to various uncertainties and risks, including, but not limited to, those described in Item 1A of Part II (Risk Factors) of our Quarterly Report on Form 10-Q for the three months ended June 30, 2016. The forward-looking statements speak only as of the date of this press release and undue reliance should not be placed on these statements. We disclaim any obligation to update any forward-looking statements contained herein after the date of this press release.
Senior Vice President
Sharon Merrill Associates, Inc.
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SOURCE Cynosure, Inc.