Cutera Announces Appointment of David Mowry as Chief Executive Officer
July 09 2019 - 8:30AM
Business Wire
COO Jason Richey Promoted to President
Comments on Preliminary Financial Results for
Second Quarter 2019
Cutera, Inc. (CUTR) (“Cutera” or the “Company”), a leading
provider of laser and energy-based aesthetic systems for
practitioners worldwide, today announced that David H. Mowry, 56,
has been named Chief Executive Officer, effective immediately. Mr.
Mowry has also been appointed to the Company’s Board of Directors.
Mr. Mowry succeeds Jason Richey, who has served as Interim CEO
since January 7, 2019.
Mr. Mowry is a career medical device executive with successful
leadership assignments across multiple market segments. Most
recently, Mr. Mowry served as President and CEO of Vyaire Medical,
a privately-held global respiratory care business with revenues
exceeding $750mm. While serving at Vyaire, Mr. Mowry led the
efforts to carve-out four separate divisions from Becton-Dickinson
and Company (BDX), following its acquisition of CareFusion,
combining the units into a standalone, singularly-focused
Respiratory Care company. Prior to Vyaire, Mr. Mowry was the
President and CEO of Tornier Inc., a publicly-traded leader in
orthopedic extremities solutions acquired by Wright Medical (WMGI)
in October 2015 for approximately $1.6 billion. While leading
Tornier, Mr. Mowry consistently delivered above-market growth
through strong commercial execution, portfolio development and
differentiated service to Tornier’s clinician customers. Prior to
Tornier, Mr. Mowry served as President of Covidien’s Neurovascular
Division, a recognized leader in the hemorrhagic and ischemic
stroke interventional device markets. Mr. Mowry received a BS in
engineering from The United States Military Academy at West
Point.
“We are pleased to welcome David Mowry as Cutera’s CEO,”
commented J. Daniel Plants, Chairman of the Board of Directors.
“Dave is a highly regarded leader in the medical device industry,
with a proven track record of building great businesses and
creating shareholder value. We’re confident that Dave’s vision,
operational discipline and commercial acumen make him the ideal
leader for Cutera, and we’re excited to leverage his experience to
help Cutera reach the next level.”
Mr. Plants also commented on the success of the Company’s
leadership in effectuating a successful CEO transition during the
past six months. “On behalf of Cutera’s Board of Directors, I would
like to thank Jason Richey for his outstanding efforts serving as
our interim CEO. Under Jason’s direction, Cutera’s senior
management has put in motion a number of important initiatives and
stabilized the business, as evidenced by the preliminary financial
results which we are also issuing today – exceeding revenue
expectations in both quarters under his watch. Jason is a talented
leader and, in recognition of his many contributions, we have
promoted him to the role of President, the first executive to hold
this title at Cutera. Finally, our search committee, comprised of
Directors Gregory Barrett and Timothy O’Shea, deserves commendation
for its thorough process, which culminated in the identification
and recruitment of Dave Mowry as our next CEO.”
“I am delighted to have the opportunity to lead Cutera, a
company with an exceptionally strong product portfolio and a
reputation for delivering differentiated technology developed with
the clinician customer in mind. The Company’s unique, singular
focus on the aesthetics market provides it with the ideal scale and
scope to win,” commented Mr. Mowry. “I am especially excited to
work with the talented team at Cutera to deliver sustainable growth
and improved profitability while, most importantly, continuing to
deliver market-leading technology to our valued customers. I am
confident in our ability to position Cutera for long-term success
and look forward to working together to achieve our full
potential.”
Cutera also announced today that its preliminary, unaudited
financial results for the quarter ended June 30, 2019 exceeded
consensus growth estimates and its own revenue forecast. The
Company plans to release full second quarter financial results as
scheduled on August 8, 2019 after market close.
About Cutera, Inc.
Brisbane, California-based Cutera is a leading provider of laser
and other energy-based aesthetic systems for practitioners
worldwide. Since 1998, Cutera has been developing innovative,
easy-to-use products that enable physicians and other qualified
practitioners to offer safe and effective aesthetic treatments to
their patients. For more information, call 1-888-4CUTERA or visit
www.cutera.com.
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934 and the Private
Securities Litigation Reform Act of 1995. The forward-looking
statements include preliminary, unaudited, financial performance
for the fourth quarter ended December 31, 2018, and plans for the
CEO search process. Forward-looking statements are based on
management's current, preliminary expectations and are subject to
risks and uncertainties, which may cause Cutera's actual results to
differ materially from the statements contained herein. Potential
risks and uncertainties that could affect Cutera's business and
cause its financial results to differ materially from those
contained in the forward-looking statements include review of our
financial results for the fourth quarter of 2018, including
consultation with our independent auditors, and others that are
described in the section entitled, “Risk Factors” in its most
recent Form 10-Q as filed with the Securities and Exchange
Commission on November 6, 2018. Undue reliance should not be placed
on forward-looking statements, which speak only as of the date they
are made. Cutera undertakes no obligation to update publicly any
forward-looking statements to reflect new information, events or
circumstances after the date they were made, or to reflect the
occurrence of unanticipated events.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190709005113/en/
Cutera, Inc. Matthew Scalo VP, Investor Relations and
Corporate Development 415-657-5500 mscalo@cutera.com
Cutera (NASDAQ:CUTR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Cutera (NASDAQ:CUTR)
Historical Stock Chart
From Sep 2023 to Sep 2024