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Accuray Incorporated CFO Resigns

Stocks in this article: ARAY

SUNNYVALE, Calif., Sept. 3, 2013 /PRNewswire/ -- Accuray Incorporated (Nasdaq: ARAY), announced today that Derek Bertocci has resigned as Senior Vice President and Chief Financial Officer of the company effective September 2, 2013.  Today, Accuray has appointed Gregory Lichtwardt, executive vice president, chief financial officer, effective immediately.  Mr. Bertocci is anticipated to continue in a consulting role with the Company.

Mr. Lichtwardt, age 59, joins Accuray after spending over nine years with Conceptus Inc., where he served as Executive Vice President, Chief Financial Officer. During his time at Conceptus Inc., its sales grew from $8 million to $141 million and adjusted EBITDA reached 20 percent of sales.

Lichtwardt brings to Accuray thirty-three years of financial and operational leadership experience in building technology companies. Prior to joining Conceptus Inc., he served as Executive Vice President, Chief Financial Officer and Corporate Secretary of Innoventry, Inc., a financial services company.  He was previously with Ocular Sciences, Inc. a world-wide developer and marketer of soft contact lenses, as Vice President, Finance and Chief Financial Officer, a company which he took public.  Prior to that, Mr. Lichtwardt held senior management positions with Allergan, Inc. and started his career with American Hospital Supply Corporation.  Mr. Lichtwardt also serves on the board of directors of Biolase, Inc., where he is the chair of the audit committee and participates on the compensation committee.

Commenting on his appointment, Mr. Lichtwardt said, "This is an exciting time to be joining Accuray.  The Company has made significant strides, is led by a talented team and is positioned to achieve significant growth.  I am energized by the challenge and look forward to contributing to the Company's success and drive to profitability."

In making the announcement, Joshua H. Levine, president and chief executive officer of Accuray said, "Greg brings broad medical device industry experience and important leadership skills that will drive the planning and execution of our financial strategies. In addition, Greg will play a significant role at Accuray as we pursue long-term strategic growth opportunities.  We are delighted to have Greg join the Accuray team at this pivotal point in our evolution.  His experiences will prove invaluable as we expand our commercial footprint and shareholder value. I would also like to thank Derek Bertocci for his leadership and guidance over the years at Accuray."

Bertocci had joined Accuray in January 2009 as CFO and during his tenure, Bertocci helped to expand the radiosurgery market with the Company's flagship product, the CyberKnife System.  He was also a key leader of the company through the growth of Accuray as a young public company and through the transformational acquisition of TomoTherapy in 2011.  The acquisition of TomoTherapy added the TomoTherapy System to the Company's product portfolio, which expanded the Company into the radiation therapy market.

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