By Dean Seal
Accuray shares advanced after the company provided early revenue estimates and said it has brought in a new chief executive and a new director as part of a companywide overhaul aimed at increasing profitability.
The stock was up 4% at $1.76 in early trading. Shares are still down about 11% from where they started the year.
The radiation oncology company said before the opening bell Monday that Suzanne Winter is retiring as CEO and has been succeeded by Steve La Neve, a former executive of Globus Medical. Winter will remain at the company in an advisory role through the end of next month.
La Neve was previously the president of the trauma and joint reconstruction business segments at Globus Medical. He has also been president of Globus Medical Japan, chief executive of Bone Biologics and global president of Becton Dickinson Preanalytical Systems.
Chairman Joe Whitters said La Neve has a record of operational excellence at leading medical-technology companies, making him well suited to guide Accuray through its next phase of growth.
Chan Galbato, senior advisor of Barington Capital Group and Alvarez & Marsal Holdings, was nominated to the board, and the company appointed Steven Mayer, who became a director in June, to the role of transformation board sponsor. Mayer will partner closely with La Neve to oversee company initiatives, Accuray said.
"With Accuray's transformation plan well underway, these leadership appointments are proactive steps to add momentum and position the company for long-term success," Whitters said.
The Madison, Wis., company also provided preliminary fiscal first-quarter results on Monday, saying it expects to post revenue of $92.5 million to $94 million.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
October 20, 2025 10:18 ET (14:18 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Comments