Jeryl Hilleman to Step Down as CFO as Part of Planned Transition in 2020
MENLO PARK, Calif.–(BUSINESS WIRE)–Intersect ENT®, Inc. (Nasdaq:XENT), a company dedicated to transforming care for patients with ear, nose and throat conditions, today announced the appointment of Thomas (“Tom”) A. West as President and Chief Executive Officer, effective July 22, 2019. He will also join the Intersect ENT Board of Directors at that time, and Kieran Gallahue will remain in his role as Executive Chairman of the Board.
Mr. West has served as Division President, Diagnostics Solutions at Hologic, Inc. since October 2014. Under Tom’s leadership, Hologic delivered consistent, above-market revenue growth rates in the domestic and international diagnostics business, achieving over $1.1 billion in worldwide diagnostics sales and reversing previous declines. Molecular Diagnostics, the division’s largest segment, grew at over eight percent per year – nearly two times the rate of the market – during his tenure. Mr. West also oversaw a steady cadence of innovation, yielding multiple FDA approvals across 11 consecutive quarters since 2016. Prior to Hologic, he held various roles of increasing responsibility at Johnson & Johnson, including serving as Worldwide Vice President of Strategy and Business Development for Johnson & Johnson’s Diabetes Solutions Companies. Previously, Mr. West served as President of LifeScan North America and as President of LifeScan EMEA. While leading LifeScan EMEA, he tripled the business in the span of four years. Mr. West earned a Bachelor’s degree in politics and economics from Princeton University and a Master of Business Administration from the Wharton School at the University of Pennsylvania.
“Tom is a proven healthcare leader bringing more than two decades of medical technology experience to Intersect ENT. We look forward to leveraging his deep knowledge of and expertise in accelerating growth through commercial execution, product innovation and the building of strong, integrated teams,” said Mr. Gallahue. “The Board and I are impressed with Tom’s strategic insights and established track record of strong execution and successful product commercialization. We believe Tom’s leadership will be a great benefit to us as we continue to advance our products in the marketplace, drive growth across our portfolio and deliver on our goal of making localized drug delivery the standard of care for patients suffering from chronic sinusitis.”
“I’m thrilled to join Intersect ENT at this time and look forward to building on the company’s history of innovation to drive accelerated growth via strong execution and with consistent financial and operational performance,” said Mr. West. “I am excited to join the Intersect ENT team in our mission of transforming care in the ear, nose and throat (ENT) specialty and extend the company’s leadership in innovation in localized drug delivery. With focused execution across both Intersect ENT’s commercialized products and pipeline of innovative, clinically meaningful therapies, I am confident that we can build an even stronger foundation for future growth as we enhance value to our shareholders.”
The company also today announced that Jeryl (“Jeri”) Hilleman, Chief Financial Officer, will step down as part of a planned transition at the beginning of 2020 so that she can focus on board responsibilities. The Board has initiated a search process to identify Intersect ENT’s next CFO.
“We want to express our deep appreciation for Jeri’s many and significant accomplishments over the years, and are deeply grateful for her commitment to ensure a seamless transition throughout this planned process,” said Mr. Gallahue. “Jeri has contributed broadly to the organization over the years, and we wish her well in the next stage of her career.”
About Intersect ENT®
Intersect ENT is dedicated to transforming ear, nose and throat care by providing innovative, clinically meaningful therapies to physicians and patients. The company’s steroid releasing implants are designed to provide mechanical spacing and deliver targeted therapy to the site of disease. In addition, Intersect ENT is continuing to expand its portfolio of products based on the company’s unique localized steroid releasing technology and is committed to broadening patient access to less invasive and more cost-effective care.
For additional information on the company or the products including risks and benefits please visit www.IntersectENT.com.
Intersect ENT is a registered trademark of Intersect ENT, Inc.
This release contains forward-looking statements within the meaning of Sections 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We may, in some cases, use terms such as “look forward,” confident,” “promises,” “predicts,” “believe,” “potential,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and may not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. These forward-looking statements are based on Intersect ENT’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation those related to the safety, efficacy and patient and physician adoption of the company’s products and therapies, the company’s ability to procure and maintain required regulatory approvals for our products, the company’s ability to grow and expand its business, as well as other risks detailed from time to time in Intersect ENT’s filings with the Securities and Exchange Commission (SEC), including Intersect ENT’s filings on Form 10-K and Form 10-Q available at the SEC’s Internet site (www.sec.gov). Intersect ENT does not undertake any obligation to update forward-looking statements and expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein.
Media Contact: Nicole Osmer
Investor Contact: Jeri Hilleman