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Zeltiq names Mark Foley president and CEO

PLEASANTON, Calif. (AP) -- Zeltiq Aesthetics Inc., which makes a body fat sculpting system, said Friday that it named Mark Foley as its president and chief executive, effective immediately.

Foley had served as interim president and CEO since the April resignation of the company's previous leader Gordie Nye. Foley also has served as a member of the company's board since 2009.

Foley has 25 years of experience in the medical device industry and was Zeltiq's executive chairman until May 2010. He previously worked at US Surgical Corp., Guidant, and three companies that were acquired by larger companies, DVI, Perclose and Ventrica, where he was the founder and CEO.

Zeltiq's CoolSculpting system is designed to reduce bulges of fat that don't go away with diet or exercise, by using extreme cold to kill fat cells.

Zeltiq shares slipped 14 cents to $4.93 in morning trading.