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Syneron Medical Appoints Co-Founder And Chairman Of The Board Shimon Eckhouse To Chief Executive Officer

Stocks in this article: ELOS

YOKNEAM, Israel, April 17, 2013 /PRNewswire/ -- Syneron Medical Ltd. (NASDAQ: ELOS),, the leading global aesthetic device company, announced today that its Board of Directors has appointed Shimon Eckhouse, Ph.D., Syneron co-founder and Chairman of the Board, as Chief Executive Officer effective immediately. Louis Scafuri will step down as Chief Executive Officer and will remain available to the Company through the second quarter of 2013 to ensure a smooth transition.

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Dr. Eckhouse is a co-founder of Syneron and a co-developer of the proprietary elos technology on which Syneron's aesthetic medical devices are based. He was also the inventor and developer of IPL technology, another fundamental cornerstone of non-invasive aesthetic medical devices. In addition to serving as active chairman at Syneron, Dr. Eckhouse has served as Chief Executive Officer of ESC Medical Systems from its inception in 1992 until 1999 and as Chief Executive Officer of ColorChip from 2001 to 2003. He has founded and served as Chairman of several medical device companies. Dr. Eckhouse holds a B.Sc. in physics from the Technion Israeli Institute of Technology and a Ph.D. in physics from the University of California at Irvine.

On behalf of the Board, independent director Dr. Michael Anghel stated, "We are fortunate that Shimon has agreed to assume the day-to-day leadership role as CEO.  As a founder of the Company and an active Chairman, he has a deep understanding of the Company's strategy, management team, business potential and industry trends. The Company has a strong executive team with deep experience that will help ensure we remain on track with our business objectives and continue to successfully execute our growth strategy."

Mr. Scafuri has been the CEO of Syneron since February 2009, successfully growing the Company's annual revenues from $55 million in 2009 (pre-merger with Candela Corporation) to $264 million in 2012.  He led the Company through an extremely challenging global economic environment, its merger with Candela Corporation, several strategic acquisitions, and the expansion of its product offering to include home-use and topical aesthetic products.

Dr. Eckhouse said, "We thank Lou for his leadership over the past four years and for the strong foundation he has built for the future. I have enjoyed working closely with him as we guided the Company through several important milestones. He was instrumental in the successful integration of Candela and positioning the Company with several significant near-term growth opportunities, including body contouring with UltraShape, home-use products through our Syneron Beauty subsidiary, and the topical business with the elure Advanced Skin Whitening system. We appreciate his passion and energy, which he brought to the Company each day, and firmly believe we are a stronger and better positioned Company today because of his leadership and strategic initiatives."

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