- Venus Concept Inc VERO appointed Rajiv De Silva as CEO and member of the company’s Board of Directors, valid from October 2nd.
- The Company also announced the departure of Domenic Serafino as Chief Executive Officer and Director, effective October 2, 2022.
- Mr. De Silva currently serves as Chairman of Covis Pharma, a privately held multinational specialty pharmaceutical company, and is co-founder of Asiri Skincare, a privately held company focused on topical therapeutic consumer skin care products.
- From 2013 to 2016 he was President, CEO & Director of Endo International Plc ENDPQ.
- In connection with the appointment of Rajiv De Silva as chief executive officer, the company has withdrawn its previously released fiscal 22 revenue guidance, last updated on August 12.
- The company was expecting FY22 revenue of $110-113 million, up Y/Y approx. 4% to 7%.
- While Venus Concept assesses potential near-term growth and profitability expectations under new leadership, in the interest of transparency, it is providing preliminary revenue guidance for Q3 2022.
- The Company expects total revenue of at least $21 million for the three months ended September 30th.
- Price promotion: VERO shares are down 6.16% to $0.41 in the latest check on Monday.
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