Myriad Announces Retirement of James Evans, Chief Financial Officer
June 09 2014 - 4:05PM
Myriad Genetics, Inc. (Nasdaq:MYGN) announced today that James
Evans, chief financial officer of Myriad, has notified the Company
of his intent to retire in order to attend to family health issues.
To ensure a smooth transition, Evans will continue as the Company's
CFO until a replacement can be found. Myriad will engage a leading
executive search firm to conduct a national search and will
consider both internal and external candidates for the position.
"Jim and I have worked closely together for nineteen years, and
he has been a valued member of the Myriad leadership team. Jim
has made outstanding contributions during a period of significant
growth and transformation for our company," said Peter D. Meldrum,
president and CEO of Myriad. "Jim leaves Myriad a stronger
company that is well positioned to deliver value to our
shareholders long term. He will be missed, and we wish him and
his family the very best."
"Working at Myriad has been a wonderful experience. I have
had the privilege of seeing history in the making as Myriad
discovered the first major genes for a common disease and launched
its life-saving test BRACAnalysis. Along the way, I worked
with truly outstanding colleagues," said Evans. "I leave
Myriad with fond memories, and knowing that the Company is
positioned for exceptional growth as its best years still lay
ahead."
Evans joined Myriad in 1995 as corporate controller and was
promoted to vice president of Finance in July of 2005. In
November of 2007, he was named chief financial officer, a position
he has held for the last seven years. He played a major role
in driving the execution of Myriad's acquisitions of Rules Based
Medicine and Crescendo Biosciences, its international expansion and
in designing the Company's capital structure to enhance shareholder
returns, including Myriad's share repurchase program.
About Myriad Genetics
Myriad Genetics is a leading molecular diagnostic company
dedicated to making a difference in patients' lives through the
discovery and commercialization of transformative tests to assess a
person's risk of developing disease, guide treatment decisions and
assess risk of disease progression and recurrence. Myriad's
molecular diagnostic tests are based on an understanding of the
role genes play in human disease and were developed with a
commitment to improving an individual's decision making process for
monitoring and treating disease. Myriad is focused on strategic
directives to introduce new products, including companion
diagnostics, as well as expanding internationally. For more
information on how Myriad is making a difference, please visit the
Company's website: www.myriad.com.
Safe Harbor
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements relating to the announced retirement of
the Company's CFO; the timing and process for the identification,
selection and replacement of the Company's CFO; and the Company's
strategic directives under the caption "About Myriad Genetics."
These "forward-looking statements" are management's present
expectations of future events and are subject to a number of risks
and uncertainties that could cause actual results to differ
materially and adversely from those described in the
forward-looking statements. These risks include, but are not
limited to: the risk that sales and profit margins of our existing
molecular diagnostic tests and companion diagnostic services may
decline or will not continue to increase at historical rates; risks
related to changes in the governmental or private insurers
reimbursement levels for our tests; the risk that we may be unable
to develop or achieve commercial success for additional molecular
diagnostic tests and companion diagnostic services in a timely
manner, or at all; the risk that we may not successfully develop
new markets for our molecular diagnostic tests and companion
diagnostic services, including our ability to successfully generate
revenue outside the United States; the risk that licenses to the
technology underlying our molecular diagnostic tests and companion
diagnostic services tests and any future tests are terminated or
cannot be maintained on satisfactory terms; risks related to delays
or other problems with operating our laboratory testing facilities;
risks related to public concern over our genetic testing in general
or our tests in particular; risks related to regulatory
requirements or enforcement in the United States and foreign
countries and changes in the structure of the healthcare system or
healthcare payment systems; risks related to our ability to obtain
new corporate collaborations or licenses and acquire new
technologies or businesses on satisfactory terms, if at all; risks
related to our ability to successfully integrate and derive
benefits from any technologies or businesses that we license or
acquire; risks related to increased competition and the development
of new competing tests and services; the risk that we or our
licensors may be unable to protect or that third parties will
infringe the proprietary technologies underlying our tests; the
risk of patent-infringement claims or challenges to the validity of
our patents; risks related to changes in intellectual property laws
covering our molecular diagnostic tests and companion diagnostic
services and patents or enforcement in the United States and
foreign countries, such as the Supreme Court decision in the
lawsuit brought against us by the Association for Molecular
Pathology et al; risks of new, changing and competitive
technologies and regulations in the United States and
internationally; and other factors discussed under the heading
"Risk Factors" contained in Item 1A of our most recent Annual
Report on Form 10-K filed with the Securities and Exchange
Commission, as well as any updates to those risk factors filed from
time to time in our Quarterly Reports on Form 10-Q or Current
Reports on Form 8-K. All information in this press release is as of
the date of the release, and Myriad undertakes no duty to update
this information unless required by law.
CONTACT: Media Contact:
Ron Rogers
(801) 584-3065
rrogers@myriad.com
Investor Contact:
Scott Gleason
(801) 584-1143
sgleason@myriad.com
Myriad Genetics (NASDAQ:MYGN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Myriad Genetics (NASDAQ:MYGN)
Historical Stock Chart
From Sep 2023 to Sep 2024