News | October 18, 2012

Accuray CEO Resigns, Board Appoints Successor for Next Phase of Growth

October 18, 2012 — Accuray Inc. announced the resignation of Euan S. Thomson as president and CEO, and director of the board. Accuray's board has appointed Joshua H. Levine as his successor, effective immediately. Thomson is anticipated to continue in a consulting role with the company.

Thomson joined Accuray in March 2002 as CEO, was appointed president in September 2002 and served on the board of directors. During his tenure, Thomson expanded the radiosurgery market with the company's flagship product, the CyberKnife system. He took the company public in February 2007 and led the company through the transformational acquisition of TomoTherapy in 2011. The acquisition of TomoTherapy added the TomoTherapy system to the company's product portfolio, which expanded Accuray into the radiation therapy market.

"I want to thank the board, Accuray employees and customers for their support and encouragement over the last 10 years as we together changed the way people think about treating cancer patients," said Thomson. "It's been a fulfilling experience, but I feel that after being CEO for 10 years, a change in leadership is healthy for the organization. It's time for change, for both the company and me."

"Euan was instrumental in growing Accuray's installed base from approximately 5 to more than 642 systems, and growing the company from approximately 75 to over 1,100 employees," said Louis J. Lavigne Jr., chairperson of the board. "The board would like to thank Euan for his 10 years of service and leading the company through the acquisition of TomoTherapy. With the acquisition of TomoTherapy we are now ready for the next stage of growth. Capitalizing on the progress made by Euan, the board attracted Joshua Levine, who the board believes is an experienced, commercially oriented CEO with diverse global healthcare experience necessary to lead the company to the next level of success."

Levine previously was CEO of Mentor Corp. where he led the company through a strategic transformation and was instrumental in its sale to a franchise of Johnson & Johnson in January 2009, and more recently was CEO of Immucor Corp. until October 2011, when it was acquired by TPG Capital.

"I am honored and excited about the opportunity to lead this great organization through its next phase of growth. Accuray has a history of technical innovations in the radiation oncology field that have helped support the personalized clinical needs of cancer patients and the radiation oncologists who treat them. I look forward to working with all of Accuray's talented and dedicated employees to help build profitable growth producing value for all of the company's constituents – shareholders, customers and employees alike," said Levine.

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