SALT LAKE CITY, Dec. 21, 2023 (GLOBE NEWSWIRE) — Myriad Genetics, Inc., (NASDAQ: MYGN ), a leader in genetic testing and precision medicine, today announced the appointment of Scott Leffler as Chief Financial Officer (CFO) , effective January 29, 2024. Leffler will replace Myriad CFO Bryan Riggsbee who is retiring. Riggsbee will continue as a strategic advisor through March 31, 2024, to ensure a smooth transition.
Riggsbee joined Myriad in 2014 as CFO. During his nine-year tenure, he made significant contributions to Myriads growth strategy and business transformation. In 2020, he served for six months as Myriads interim CEO, navigating the business and supporting teammates through the height of the pandemic.
I want to extend my gratitude to Bryan for his leadership and the significant role he has played in shaping our business over the past nine years, said Paul J. Diaz, president and CEO, Myriad Genetics. His vision and financial acumen are critical components to the successful execution of our transformation plan and focus across our three core business units. We thank him for setting the stage for business success and wish him well in his next chapter.
Leffler brings to Myriad nearly 20 years of financial experience, in a broad range of healthcare and market segments at public payer and private equity-backed companies. Leffler has held several financial leadership positions and brings expertise in financial restructuring, acquisitions and mergers, as well as risk management. In his role as CFO, he is responsible for leading the company’s financial team and strategy to support Myriads long-term growth and profitability.
We are delighted to welcome Scott to Myriad. He is a thoughtful and focused leader with a proven track record of financial leadership, strategy and execution that has resulted in remarkable business growth, said Diaz. With his strategic vision, analytical curiosity and industry expertise, Scott has played a key role in building our business foundation to accelerate profitability, financial performance and innovation.
Leffler previously served as CFO of Clover Health. Prior to Clover Health, he was the CFO and Treasurer of Sotera Health. He earned his BA in economics and history from Yale University and an MBA from Emory University.
In its third quarter 2023 earnings call on November 6, Myriad updated its 2023 financial guidance and introduced 2024 earnings guidance. Myriad reiterated the guidance provided at the time.
About Myriad Genetics
Myriad Genetics is a leading genetic testing and precision medicine company dedicated to improving the health and well-being of all. Myriad develops and offers genetic tests that help assess the risk of disease development or disease progression and guide treatment decisions in medical specialties where genetic insights can significantly improve treatment. -patient care and lowering health care costs. For more information, visit www.myriad.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding 2023 financial guidance and 2024 earnings guidance. These forward-looking statements are management’s current expectations of future events as of the date hereof and are subject to numerous known and unknown risks and uncertainties that may cause actual results, conditions, and events that differ materially and adversely from expectations. These risks include, but are not limited to: the risk that the company’s current sales and profit margins may decline or that the company may not be able to operate its business on a profitable basis ; risks related to the company’s ability to meet certain revenue growth targets and generate sufficient revenue from the current product portfolio or to launch and commercialize new tests to make a profit; risks related to changes in government or private insurers’ coverage and payment levels for the company’s tests or the company’s ability to obtain payment for its new tests at the same level as existing tests; risks related to increased competition and the development of new competitive trials; the risk that the company will not be able to develop or achieve commercial success for additional tests in a timely manner, or at all; the risk that the company may not successfully develop new markets or channels for its efforts, including the company’s ability to successfully generate significant revenues outside the United States; the risk that the technology licenses underlying the company’s tests and any future tests are terminated or cannot be maintained on satisfactory terms; risks related to delays or other problems in building and operating the company’s laboratory testing facilities; risks related to public concern about genetic testing in general or the company’s tests in particular; risks related to regulatory or enforcement requirements in the United States and foreign countries and changes in the structure of the health care system or health care payment systems; risks related to the company’s ability to obtain new corporate collaborations or licenses and acquire or develop new technologies or businesses on satisfactory terms, if any; risks related to the company’s ability to successfully integrate and obtain benefits from any technologies or businesses it licenses, acquires or develops; the risk that the company will not obtain additional financing to fund its business, if needed, in a timely manner or on favorable terms, if at all; risks related to the company’s projections or estimates regarding potential market opportunities for the company’s current and future products; the risk that the company or its licensors may be unable to protect or that third parties may infringe the proprietary technologies underlying the company’s tests; the risk of patent-infringement claims or challenges to the validity of the company’s patents; risks related to changes in intellectual property laws covering the company’s trials, or patents or enforcement, in the United States and foreign countries; risks related to security breaches, data loss and other disruptions, including from cyberattacks; risks of new, changing and competitive technologies in the United States and internationally and that the company may not be able to keep pace with rapid technological change in its industry, or properly utilize new technologies to achieve or maintain competitive advantages in its products; the risk that the company may not be able to meet financial performance agreements under the company’s credit or lending agreements; risks related to the company’s inability to achieve and maintain effective disclosure controls and procedures and internal controls over financial reporting; risks related to current and future investigations, claims or lawsuits, including derivative claims, product or professional liability claims, and other factors discussed under the heading Risk Factors contained in Item 1A of the Annual Report on Form 10-K filed with the US Securities and Exchange Commission (SEC) on March 1, 2023 updated to the company’s Quarterly Report on Form 10-Q filed with the SEC in May 4, 2023, the Quarterly Report on Form 10-Q filed with the SEC on August 4, 2023, and the companies’ Quarterly Report on Form 10-Q filed with the SEC on November 7, 2023, as well any additional updates to risk factors filed from time to time in Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. Myriad Genetics is under no obligation, and it expressly disclaims any obligation, to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise except as required by law.
To see Scott Leffler: Myriad Genetics, Inc., a leader in genetic testing and precision medicine, today announced the appointment of Scott Leffler as Chief Financial Officer (CFO), effective January 29, 2024. Leffler will succeed Myriad CFO Bryan Riggsbee is retiringplease visit the following link: https://www.globenewswire.com/NewsRoom/AttachmentNg/64703a68-7f3f-436e-a59f-9de4135109e4.
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