ALAMEDA, Calif., Nov. 25, 2019 /PRNewswire/ -- Penumbra,
Inc. (NYSE: PEN), a global healthcare company focused on
innovative therapies, today announced the appointment of
Maggie Yuen as CFO of Penumbra,
effective December 2, 2019.
Ms. Yuen is a seasoned executive with more than 20 years of
experience scaling finance organizations, processes, and
infrastructure within the Manufacturing, Medical Devices, and Life
Science industries. Over the course of her career, she has
developed financial and operational expertise at both multi-billion
dollar public companies and entrepreneurial start-up
ventures. Most recently, Ms. Yuen was at Thermo Fisher
Scientific, Inc. (NYSE: TMO) serving as Vice President, Finance of
the Genetic Science Division where she directed finance operations,
strategic planning and BD activities, among a number of other
executive functions.
"We are excited to welcome a leader of Maggie's caliber
to Penumbra. She brings key experience and capabilities that
will complement our team as we continue to expand our markets,
penetration, and global presence," said Sri Kosaraju,
President of Penumbra.
"I am looking forward to joining the team
at Penumbra, a company with a rich history of innovation
and a very promising future for positive patient impact," said Ms.
Yuen. "I am excited to work alongside
the Penumbra leadership team and contribute to the
Company's initiatives to drive future growth and value for its
stakeholders."
"Our team has been a critical part of our growth, and
developing, retaining, and attracting talent is important to
executing on our strategy. Today's announcement, and the addition
of Maggie to our team, embodies the best of Penumbra - it is an
important step forward in continuing to build our organization and
our company. I am excited for Maggie and also for the broader
Penumbra team," said Adam Elsesser,
Chairman and CEO of Penumbra.
Concurrent with Ms. Yuen's appointment, Sri Kosaraju, who served in the role of
President and CFO prior to this appointment, will continue in his
role as President. At the same time, Lambert Shiu, who joined Penumbra in 2015 prior
to the company's IPO and most recently served as VP of Finance,
will be promoted to chief accounting officer.
About Maggie Yuen
Ms. Yuen is a seasoned executive who brings to
Penumbra more than 20 years of progressive leadership
experience driving scalable finance organizations, processes and
infrastructure utilizing broad-based experience in FP&A, cost
accounting, external audit management, treasury, M&A
integration, general accounting, global consolidation, and FX
hedging in the Manufacturing, Medical Devices, and Life
Science industries.
She most recently served as Vice President Finance of the
Genetic Science Division within Thermo Fisher Scientific, Inc., a
$2 billion revenue business in
instrument platforms, cloud-based software, content and services.
In her role she directed finance operations, annual planning,
strategic planning, investments and business development
activities. Prior to Thermo Fisher,
Ms. Yuen held leadership positions with increasing responsibility
at Mirion Technologies, and senior finance roles at Boston
Scientific, Glu Mobile, and Johnson & Johnson.
Ms. Yuen was recognized by the California Diversity Council as a
Top Female Executive and received the Most Powerful &
Influential Women Award for undeniable leadership, commitment to
community well-being and significantly impacting company revenues
and profitability. She graduated with a BS in Accounting from
Case Western Reserve University and
received her Master of Accountancy and MBA from the Weatherhead
School of Management.
About Penumbra
Penumbra, Inc., headquartered in Alameda, Calif., is a global healthcare
company focused on innovative therapies. Penumbra designs,
develops, manufactures and markets innovative products and has a
broad portfolio that addresses challenging medical conditions and
significant clinical needs across two major markets, neuro and
vascular. Penumbra sells its products to hospitals primarily
through its direct sales organization in the United States, most of Europe, Canada and Australia, and through distributors in select
international markets. Penumbra and the Penumbra P logo are
trademarks of Penumbra, Inc. For more information, visit
www.penumbrainc.com
Forward-Looking Statements
Except for historical information, certain statements in this
press release are forward-looking in nature and are subject to
risks, uncertainties and assumptions about us. Our business and
operations are subject to a variety of risks and uncertainties and,
consequently, actual results may differ materially from those
projected by any forward-looking statements. Factors that could
cause actual results to differ from those projected include, but
are not limited to: failure to sustain or grow profitability or
generate positive cash flows; failure to effectively introduce and
market new products; delays in product introductions; significant
competition; inability to further penetrate our current customer
base, expand our user base and increase the frequency of use of our
products by our customers; inability to achieve or maintain
satisfactory pricing and margins; manufacturing difficulties;
permanent write-downs or write-offs of our inventory; product
defects or failures; unfavorable outcomes in clinical trials;
inability to maintain our culture as we grow; fluctuations
in foreign currency exchange rates; and potential adverse
regulatory actions. These risks and uncertainties, as well as
others, are discussed in greater detail in our filings with the
Securities and Exchange Commission, including our Quarterly Reports
on Form 10-Q and our Annual Report on Form 10-K for the year ended
December 31, 2018. There may be
additional risks of which we are not presently aware or that we
currently believe are immaterial which could have an adverse impact
on our business. Any forward-looking statements are based on
our current expectations, estimates and assumptions regarding
future events and are applicable only as of the dates of such
statements. We make no commitment to revise or update any
forward-looking statements in order to reflect events or
circumstances that may change.
Investor Relations
Penumbra, Inc.
510-995-2461
investors@penumbrainc.com
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SOURCE Penumbra, Inc.