Personnel reshuffles at Lumenis - TheStreet

Lumenis (Nasdaq:LUME) today announced executive reshuffles and the establishment of new headquarters.

Lumenis, formerly ESC Medical Systems, specializes in pulsed light and laser-based systems used for cosmetic and medical purposes.

Sharon Levita is to replace CFO, Executive VP Finance Asif Adil. Levita has to date served as the company comptroller. The company said that Adil will be leading the efforts to develop Asian markets, such as India. Adil joined the company on September 1, 2000, and on July 20 became CFO, replacing Sagi A. Genger, who was appointed as COO.

In addition, the company announced that it is establishing European headquarters in Amsterdam. Holland. The Amsterdam office will be headed by Executive VP European Operations Mike Terry.

The new European center will be in charge of coordinating sales activity, marketing, and services in Europe. The center will include the company's biggest distribution center for laser and pulsed light treatments outside the United States.

Lumenis has also opened an outfit in Schaffhausen, Switzerland, for running its intellectual property business, and other intangible assets outside the United States.

The Swiss branch is to be headed by Hadar Solomon, who will be go on serving as company secretary.

President and CEO Yacha Sutton said that the Amsterdam branch will provide Lumenis with substantial financial benefits, including lower tax rates. He added that the Amsterdam branch will help Lumenis increase its European market penetration.