Myriad Genetics Announces Senior Leadership Transition
Myriad Genetics (NASDAQ: MYGN) announced key leadership changes effective April 30, 2025. Sam Raha, the current COO, will become President and CEO, replacing Paul J. Diaz, who is stepping down to join Cressey & Company as Managing Partner. Diaz will continue as a consultant to Raha and the Board for one year.
Additionally, Mark S. Verratti, currently Chief Commercial Officer, will be promoted to COO concurrent with Raha's appointment. The company has initiated a search for a new CCO.
Raha, who joined Myriad in December 2023, has been instrumental in shaping the company's long-term growth strategy and operational excellence. The Board's decision follows a robust succession planning process, emphasizing Raha's deep diagnostics industry experience as important for Myriad's continued growth in molecular diagnostics testing and precision medicine.
Myriad Genetics (NASDAQ: MYGN) ha annunciato importanti cambiamenti nella leadership a partire dal 30 aprile 2025. Sam Raha, attuale COO, diventerà Presidente e CEO, sostituendo Paul J. Diaz, che si dimette per unirsi a Cressey & Company come Partner Gestionale. Diaz continuerà a lavorare come consulente per Raha e il Consiglio per un anno.
Inoltre, Mark S. Verratti, attualmente Chief Commercial Officer, sarà promosso a COO in concomitanza con la nomina di Raha. L'azienda ha avviato una ricerca per un nuovo CCO.
Raha, che è entrato in Myriad nel dicembre 2023, è stato fondamentale nel definire la strategia di crescita a lungo termine dell'azienda e l'eccellenza operativa. La decisione del Consiglio segue un robusto processo di pianificazione della successione, sottolineando l'importante esperienza di Raha nell'industria della diagnostica come fondamentale per la continua crescita di Myriad nei test diagnostici molecolari e nella medicina di precisione.
Myriad Genetics (NASDAQ: MYGN) anunció cambios clave en el liderazgo que entrarán en vigor el 30 de abril de 2025. Sam Raha, el actual COO, se convertirá en Presidente y CEO, reemplazando a Paul J. Diaz, quien dejará su puesto para unirse a Cressey & Company como Socio Gerente. Diaz continuará como consultor para Raha y la Junta durante un año.
Además, Mark S. Verratti, actualmente Director Comercial, será ascendido a COO al mismo tiempo que la designación de Raha. La empresa ha iniciado la búsqueda de un nuevo CCO.
Raha, quien se unió a Myriad en diciembre de 2023, ha sido fundamental en la formulación de la estrategia de crecimiento a largo plazo de la empresa y la excelencia operativa. La decisión de la Junta sigue un sólido proceso de planificación de sucesión, enfatizando la profunda experiencia de Raha en la industria de diagnósticos como importante para el crecimiento continuo de Myriad en pruebas de diagnóstico molecular y medicina de precisión.
Myriad Genetics (NASDAQ: MYGN)는 2025년 4월 30일부터 적용되는 주요 리더십 변경을 발표했습니다. Sam Raha, 현재 COO는 Paul J. Diaz를 대신하여 사장 겸 CEO가 됩니다. Diaz는 Cressey & Company의 관리 파트너로 합류하기 위해 사임합니다. Diaz는 1년 동안 Raha와 이사회에 자문 역할을 계속할 것입니다.
또한, 현재 상업 책임자인 Mark S. Verratti는 Raha의 임명과 동시에 COO로 승진합니다. 회사는 새로운 CCO를 찾기 위한 검색을 시작했습니다.
Raha는 2023년 12월에 Myriad에 합류했으며, 회사의 장기 성장 전략과 운영 우수성 형성에 중요한 역할을 했습니다. 이사회의 결정은 강력한 후계 계획 프로세스를 따르며, Raha의 깊은 진단 산업 경험이 Myriad의 분자 진단 테스트 및 정밀 의학에서 지속적인 성장을 위해 중요하다는 점을 강조합니다.
Myriad Genetics (NASDAQ: MYGN) a annoncé des changements clés dans sa direction, effectifs à partir du 30 avril 2025. Sam Raha, l'actuel COO, deviendra Président et CEO, remplaçant Paul J. Diaz, qui démissionne pour rejoindre Cressey & Company en tant que Partenaire Directeur. Diaz continuera à agir en tant que consultant pour Raha et le Conseil pendant un an.
De plus, Mark S. Verratti, actuellement Directeur Commercial, sera promu au poste de COO en même temps que la nomination de Raha. L'entreprise a lancé une recherche pour un nouveau CCO.
Raha, qui a rejoint Myriad en décembre 2023, a joué un rôle essentiel dans la formulation de la stratégie de croissance à long terme de l'entreprise et de l'excellence opérationnelle. La décision du Conseil fait suite à un solide processus de planification de la succession, soulignant l'expérience approfondie de Raha dans l'industrie du diagnostic comme étant cruciale pour la croissance continue de Myriad dans les tests diagnostiques moléculaires et la médecine de précision.
Myriad Genetics (NASDAQ: MYGN) gab am 30. April 2025 wesentliche Änderungen in der Führung bekannt. Sam Raha, der derzeitige COO, wird Präsident und CEO und ersetzt Paul J. Diaz, der zurücktritt, um als Managing Partner zu Cressey & Company zu wechseln. Diaz wird ein Jahr lang als Berater für Raha und den Vorstand tätig sein.
Zusätzlich wird Mark S. Verratti, der derzeit Chief Commercial Officer ist, gleichzeitig mit Rahanas Ernennung zum COO befördert. Das Unternehmen hat die Suche nach einem neuen CCO eingeleitet.
Raha, der im Dezember 2023 zu Myriad kam, war maßgeblich an der Gestaltung der langfristigen Wachstumsstrategie und der operativen Exzellenz des Unternehmens beteiligt. Die Entscheidung des Vorstands folgt einem soliden Nachfolgeplanungsprozess, der Rahas umfassende Erfahrung in der Diagnostikbranche als wichtig für das fortwährende Wachstum von Myriad im Bereich molekulare Diagnosetests und Präzisionsmedizin hervorhebt.
- Structured leadership transition with one-year consulting arrangement ensures continuity
- New CEO brings deep diagnostics industry experience
- Internal promotion to COO position indicates strong succession planning
- Loss of CEO who led company transformation over past 4.5 years
- Potential disruption during leadership transition period
- Need to fill vacant CCO position creates temporary leadership gap
Appoints Sam Raha as CEO and Mark S. Verratti as COO Effective April 30, 2025
SALT LAKE CITY, Feb. 24, 2025 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in molecular diagnostics testing and precision medicine, today announced that its Board of Directors has appointed Sam Raha, the Company’s current Chief Operating Officer (COO), as President and Chief Executive Officer (CEO) and as a member of the Board, effective April 30, 2025. Mr. Raha will replace Paul J. Diaz, who is stepping down to join private equity firm Cressey & Company as a Managing Partner. Mr. Diaz will continue to serve the Company as a consultant to Mr. Raha and the Board of Directors for another year.
“Since joining Myriad in December 2023, Sam has played an integral role in shaping the Company’s long-term growth strategy, while delivering new perspectives and expertise to advance our business initiatives, operational excellence and profitability,” said S. Louise Phanstiel, Chair of Myriad’s Board of Directors. “Having engaged in a robust succession planning process, the Board is very pleased and excited to welcome Sam as Myriad’s next President and Chief Executive Officer. His deep background in the diagnostics industry and leadership throughout his career are crucial to the continued growth of Myriad and the achievement of our mission to advance health and well-being for all, while creating long-term value for our shareholders.”
“I am honored to take on the leadership of Myriad at this pivotal point in the Company’s evolution and I am grateful for Paul’s leadership in both transforming the Company and delivering a foundation of profitable growth,” said Mr. Raha. “I am now looking forward to leading the team and accelerating our strategy to drive continued growth and profitability through our comprehensive portfolio and future innovation, while continuing to leverage the Company’s multi-year investment program and focusing on the needs of patients and the healthcare providers who serve them.”
Ms. Phanstiel continued, “The Board of Directors is grateful to Paul for all his contributions to Myriad by leading the Company on its transformation journey over the last four-and-a-half years. Paul has strengthened Myriad’s brand, upgraded its operational capacity and launched a new platform for growth that includes our pipeline of new and innovative products. We wish him continued success in his next venture.”
Mr. Diaz said, “It has been an honor to serve as Myriad’s President and CEO and further the Company’s vision of providing genetic insights that help people take control of their health and enable healthcare providers to better detect, treat and prevent disease. We have made great strides transforming Myriad’s business over the last four-in-a-half years while staying focused on increasing patient access, reducing friction in the customer experience, and providing high quality genetic testing to our patients and customers. I believe the Company is well positioned for the future and will continue to grow and innovate under Sam’s leadership.”
The Company also announced that Mark S. Verratti, Myriad’s current Chief Commercial Officer (CCO) will be promoted to COO concurrent with Mr. Raha’s appointment. A search for a new CCO is already underway.
About Sam Raha
Mr. Raha has served as Myriad’s COO since December 2023. He previously served as the President of Agilent’s Diagnostics and Genomics Group where he was responsible for overall strategy along with the business and financial results. Prior to Agilent, he was Vice President of Global Marketing at Illumina. He earned his MBA from Santa Clara University and has an undergraduate degree in molecular and cell biology from the University of California, Berkeley.
About Myriad Genetics
Myriad Genetics is a leading molecular diagnostic testing and precision medicine company dedicated to advancing health and well-being for all. Myriad Genetics develops and offers molecular tests that help assess the risk of developing disease or disease progression and guide treatment decisions across medical specialties where molecular insights can significantly improve patient care and lower healthcare 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 relating to the transition of senior leadership at the Company, accelerating the Company’s strategy to drive continued growth and profitability while continuing to leverage the Company’s multi-year investment program and the belief that the Company will continue to grow and innovate under Mr. Raha’s leadership. These “forward-looking statements” are management’s expectations of future events as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results, conditions, and events to differ materially and adversely from those anticipated. Such factors include those risks described in the Company’s filings with the U.S. Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K filed on February 28, 2024, as well as any updates to those risk factors filed from time to time in the Company’s Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. Myriad is not under any obligation, and it expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law.
Investor Contact
Matt Scalo
(801) 584-3532
IR@myriad.com
Media Contact
Kate Schraml
(224) 875-4493
PR@myriad.com
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