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Veracyte Names Keith Kennedy Chief Operating Officer and Chief Financial Officer

SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--

Expanded Role Strengthens Top Tier of Company’s Executive Leadership Team

Veracyte, Inc. (VCYT), a leading genomic diagnostics company, today announced that it has named Keith Kennedy, the company’s current chief financial officer (CFO), to also serve as its chief operating officer (COO) effective today. In this expanded role, Mr. Kennedy assumes leadership over key operations and all administrative functions for the company. The promotion of Mr. Kennedy to CFO and COO combined with the broad experience and leadership of Giulia C. Kennedy, Ph.D., Veracyte’s chief scientific and medical officer, and John Hanna, the company’s chief commercial officer, further strengthens the company’s top-tier executive leadership team.

“I am thrilled that Keith is taking on an expanded leadership role within the company,” said Bonnie Anderson, Veracyte’s chief executive officer. “The talent, expertise and strength of Veracyte’s leadership team position us for the next stage of our growth and, we believe, for continued near- and longer-term success.”

Mr. Kennedy has more than 20 years of experience in finance, operations and other leadership positions. Prior to joining Veracyte as CFO in December 2016, he served in key executive leadership positions at MCG Capital, Arlington Capital Partners and GE Capital. Mr. Kennedy received his M.B.A. from The College of William & Mary and a Bachelor of Science with high distinction from Indiana University. Mr. Kennedy is a chartered financial analyst and certified public accountant.

Dr. Kennedy was the first executive hire by Ms. Anderson in 2008 when Veracyte was founded. She has since served as the chief scientific officer, and, in January 2018, assumed leadership of the company’s clinical and medical affairs functions as well.

John Hanna, Veracyte’s chief commercial officer (CCO), joined the company in 2011, and, prior to his promotion to CCO in 2017, served in positions such as vice president of marketing and vice president of endocrinology.

About Veracyte

Veracyte (VCYT) is a leading genomic diagnostics company that improves patient care by providing trustworthy and actionable answers to challenging clinical questions. The company's products uniquely combine advanced genomic technology, clinical science and machine learning to provide answers that give patients and physicians a clear path forward, informing both diagnosis and treatment decisions without the need for costly, risky surgeries that are often unnecessary. Since its founding in 2008, Veracyte has commercialized seven genomic tests and is transforming the diagnosis of thyroid cancer, lung cancer and idiopathic pulmonary fibrosis. Veracyte is based in South San Francisco, California. For more information, please visit www.veracyte.com and follow the company on Twitter (@veracyte).

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "expect," "believe," "should," "may," "will" and similar references to future periods. Examples of forward-looking statements include, among others, our expectations regarding our leadership team, the timing by which our Percepta GSC will be made available to physicians; the timing of the release of nasal swab data; our ability to achieve and maintain Medicare coverage for our tests, including the Envisia Genomic Classifier; the expected impacts of Veracyte’s collaboration with Johnson & Johnson in developing interventions for lung cancer, on Veracyte’s financial and operating results, on the timing of the commercialization of the Percepta classifier, and the size of Veracyte’s addressable market. Forward-looking statements are neither historical facts nor assurances of future performance, but are based only on our current beliefs, expectations and assumptions. These statements involve risks and uncertainties, which could cause actual results to differ materially from our predictions, and include, but are not limited to: our ability to achieve milestones under the collaboration agreement with Johnson & Johnson; the benefits of our tests and the applicability of clinical results to actual outcomes; the laws and regulations applicable to our business, including potential regulation by the Food and Drug Administration or other regulatory bodies; our ability to successfully achieve and maintain adoption of and reimbursement for our products; the amount by which use of our products are able to reduce invasive procedures and misdiagnosis, and reduce healthcare costs; the occurrence and outcomes of clinical studies; and other risks set forth in our filings with the Securities and Exchange Commission, including the risks set forth in our annual report on Form 10-Q for the quarter ended March 31, 2019. These forward-looking statements speak only as of the date hereof and Veracyte specifically disclaims any obligation to update these forward-looking statements or reasons why actual results might differ, whether as a result of new information, future events or otherwise, except as required by law.

Veracyte, Afirma, Percepta, Envisia and the Veracyte logo are trademarks of Veracyte, Inc.

 

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