Accuray Announces New Board of Directors Chairperson
SUNNYVALE, Calif., April 12, 2010 /PRNewswire via COMTEX/ --Accuray Incorporated (Nasdaq: ARAY), a global leader in the field of radiosurgery, announced today that Louis J. Lavigne, Jr. has been appointed Chairperson of the Company's Board of Directors, effective April 8, 2010.
Lavigne will succeed Wayne Wu who is stepping down from service as Chairperson but will remain an integral member of Accuray's Board of Directors, on which he has served since April 1998. Wu, who began working with Accuray in its earliest days as a venture capital investor, has served as Accuray's Chairperson since May 2004. He guided the company through its initial public offering in February 2007 and into its current role as a leading publicly-traded medical device company.
"Lou brings decades of experience in public healthcare company management to the Chairperson role and is in a tremendous position to extend Accuray's lead in the radiosurgery market," said Wayne Wu, President of Pacific Health Investment, Inc., and outgoing Chairperson of Accuray's Board of Directors. "With such a strong Board in place, I feel it's a good time for me to pass the torch to Lou to leverage his expertise and track record in the healthcare industry to lead the company into the next chapter of its growth as a company."
Lavigne, who currently is a management consultant specializing in the areas of corporate finance, accounting and strategy, has been a member of Accuray's Board of Directors since September 2009 and most recently has been Chair of its Compensation Committee. Lavigne brings more than 25 years of industry experience to his new role as Chairperson, including leadership positions at Genentech Inc., which included Chief Financial Officer from 1988 and Executive Vice President from 1997 until his retirement in 2005. He serves on the Boards of Directors of Allergan, Inc. and BMC Software, Inc., where he also chairs the Audit Committee. Lavigne also sits on the Board of Trustees for Caltech (The California Institute of Technology) and in the past has been a Director and Audit Committee Chair at Arena Pharmaceuticals, Equinix, and Kyphon.
"Over the past six years Wayne has lead the company through major milestones and has spearheaded the establishment of a very strong Board of Directors with vast expertise in Accuray's working environment," said Lou Lavigne, Accuray's incoming Chairperson. "I'm honored to take on the role of Chairperson and continue the legacy of success and leadership that Wayne has helped to build for Accuray and CyberKnife radiosurgery."
About Accuray
Accuray Incorporated (Nasdaq: ARAY), based in Sunnyvale, Calif., is a global leader in the field of radiosurgery dedicated to providing an improved quality of life and a non-surgical treatment option for those diagnosed with cancer. Accuray develops and markets the CyberKnife Robotic Radiosurgery System, which extends the benefits of radiosurgery to include extracranial tumors, including those in the spine, lung, prostate, liver and pancreas. To date, the CyberKnife System has been used to treat more than 80,000 patients worldwide and currently 190 Systems have been installed in leading hospitals in the Americas, Europe and Asia. For more information, please visit www.accuray.com.
Safe Harbor Statement
The foregoing may contain certain forward-looking statements that involve risks and uncertainties, including uncertainties associated with the medical device industry. Except for the historical information contained herein, the matters set forth in this press release, as to qualitative management experience and market acceptance are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date the statements are made and are based on information available at the time those statements are made and/or management's good faith belief as of that time with respect to future events. You should not put undue reliance on any forward-looking statements. Important factors that could cause actual performance and results to differ materially from the forward-looking statements we make include: market acceptance of products; competing products, the combination of our products with complementary technology; and other risks detailed from time to time under the heading "Risk Factors" in our report on Form 10-K for the 2009 fiscal year, our quarterly report on Form 10-Q filed on February 4, 2010 and our other filings with the Securities and Exchange Commission. The Company's actual results of operations may differ significantly from those contemplated by such forward-looking statements as a result of these and other factors. We assume 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.
SOURCE Accuray Incorporated