Accuray Announces CEO Change

Accuray (Nasdaq: ARAY  ) today announced the resignation of Euan S. Thomson as president and chief executive officer and as a director of the board. The company's board of directors appointed Joshua H. Levine as his successor, effective immediately.

Prior to his appointment as CEO of Accuray, Levine served as CEO of Mentor Corp., which he left in 2009 following its acquisition by Johnson & Johnson (NYSE: JNJ  ) . Levine subsequently joined Immucor as CEO, where he stayed until October 2011, when the company was bought by TPG Capital.

The board praised Levine, 54, as "an experienced, commercially oriented CEO with diverse global healthcare experience necessary to lead the company to the next level of success."

Thomson joined Accuray in 2002. He led the the company as it went public in 2007 and in its 2011 acquisition of TomoTherapy. In his public statement following the announcement, Thomson expressed appreciation for his 10 years with Accuray but said that "it's time for change, for both the Company and me."Thomson is expected to continue in a consulting role with the company.

Accuray's Chairman, Louis J. Lavigne Jr., thanked Thomson for his leadership and said in a statement that the company is "now ready for the next stage of growth."

Accuray shares declined 3% in intraday trading. The stock is up over 50% thus far in 2012.

Keith Speights has no positions in the stocks mentioned above. The Motley Fool owns shares of Johnson & Johnson. Motley Fool newsletter services recommend Johnson & Johnson. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


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