Sientra Announces Appointment of Chief Financial Officer

Rhea-AI Summary

Sientra, Inc. (NASDAQ: SIEN) has appointed Andy Schmidt as the new Chief Financial Officer (CFO), effective immediately. With over 20 years of financial leadership experience, Schmidt previously served as CFO at Guardion Health Sciences, where he successfully raised $35 million and ensured Nasdaq listing compliance. Sientra's President and CEO, Ron Menezes, expressed confidence in Schmidt's ability to drive financial operations and support the company's growth strategy, aiming to become one of the top two breast implant companies within two years.

Positive

• Appointment of Andy Schmidt as CFO brings over 20 years of financial leadership experience.
• Schmidt's previous role involved raising $35 million and restoring listing compliance.
• Company aims to become a top two breast implant company within two years.

Negative

• None.

SANTA BARBARA, Calif., July 12, 2021 (GLOBE NEWSWIRE) -- Sientra, Inc. (NASDAQ: SIEN) (“Sientra” or the “Company”), a medical aesthetics company uniquely focused on plastic surgeons, today announced that Andy Schmidt has been appointed Chief Financial Officer (CFO) effective immediately. As a key member of Sientra’s executive leadership team, Mr. Schmidt will lead the Company’s financial operations.

“We are extremely pleased to welcome a strong leader like Andy to the Sientra team. His experience with growth-oriented public companies will be invaluable as we work towards expanding our market share and advancing the art of plastic surgery,” said Ron Menezes, President and Chief Executive Officer of Sientra. “We are fortunate to have a strong finance team, and now a smooth transition plan in place that enables us to take the next stride forward in the advancement of our breast products and financial performance.”

Mr. Schmidt brings to Sientra more than 20 years of financial leadership experience and has successfully directed the financial, M & A and capital market strategies of numerous publicly held companies. Most recently, he served as the CFO of Guardion Health Sciences, a Nasdaq-listed company focused on clinical nutrition, diagnostics, and medical devices. During his tenure at Guardion, Mr. Schmidt was part of a team that raised $35 million and also restored the Companies Nasdaq listing compliance. Previously, he served as the CFO of Iteris, Inc., a publicly traded global technology company. With a focus on internal and external strategic development and execution, Mr. Schmidt accelerated growth and achieved record stock performance. Prior, he was the CFO of publicly traded Smith Micro Software, Inc. and Genius Products, Inc. Earlier, he served in financial leadership roles with Peregrine Systems and Mad Catz Interactive.

“I am thrilled to join one of the fastest growing medical aesthetics company in the U.S.,” said Mr. Schmidt. “I look forward to work with the team to accelerate Sientra’s growth and support its goal to be a top two breast implant company in two years.”

Mr. Schmidt received a Master of Science in Accountancy from San Diego State University and a Bachelor of Business Administration in Finance from the University of Texas, Austin, TX. His honors include two academic awards / scholarships and a full athletic scholarship. In swimming, he earned All-America status, won the U.S. National Championship, and served as a member of the USA National Swimming Team.

About Sientra
Headquartered in Santa Barbara, California, Sientra is a medical aesthetics company uniquely focused on plastic surgeons. The Company mission is to offer proprietary innovations and unparalleled partnerships that radically advance how plastic surgeons think, work and care for their patients. Sientra has developed a broad portfolio of products with technologically differentiated characteristics, supported by independent laboratory testing and strong clinical trial outcomes. The Company’s Breast Products segment includes its Sientra round and shaped breast implants, the first fifth generation breast implants approved by the FDA for sale in the United States, its ground-breaking Allox2® breast tissue expander with patented dual-port and integral drain technology, and BIOCORNEUM®, the #1 performing, preferred and recommended scar gel of plastic surgeons(*).

Sientra uses its investor relations website to publish important information about the Company, including information that may be deemed material to investors. Financial and other information about Sientra is routinely posted and is accessible on the Company’s investor relations website at www.sientra.com.

^(*) Data on file

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, based on management’s current assumptions and expectations of future events and trends, which affect or may affect the Company’s business, strategy, operations or financial performance, and actual results may differ materially from those expressed or implied in such statements due to numerous risks and uncertainties. Forward-looking statements are made only as of the date of this release. The words ‘‘believe,’’ ‘‘may,’’ ‘‘might,’’ ‘‘could,’’ ‘‘will,’’ ‘‘aim,’’ ‘‘estimate,’’ ‘‘continue, ‘‘anticipate,’’ ‘‘intend,’’ ‘‘expect,’’ ‘‘plan,’’ ‘‘position,” or the negative of those terms, and similar expressions that convey uncertainty of future events or outcomes are intended to identify estimates, projections and other forward-looking statements. Forward-looking statements may include information concerning the Company’s expansion of its market share, the Company’s advancement of the art of plastic surgery, the Company’s acceleration of growth, and the Company’s goal of becoming a top two implant company in two years. Such statements are subject to risks and uncertainties, including the scope and duration of the COVID-19 pandemic, the Company’s ability to recapture delayed procedures resulting from the COVID-19 pandemic, the positive reaction from plastic surgeons and their patients to Sientra’s Breast Products, the positive reaction from plastic surgeons and patients to Sientra’s marketing, sales and educational programs, and the ability to execute on the Company’s commercial, product development and manufacturing initiatives. Additional factors that could cause actual results to differ materially from those contemplated in this press release can be found in the Risk Factors section of Sientra’s public filings with the Securities and Exchange Commission. All statements other than statements of historical fact are forward-looking statements. The words ‘‘believe,’’ ‘‘may,’’ ‘‘might,’’ ‘‘could,’’ ‘‘will,’’ ‘‘aim,’’ ‘‘estimate,’’ ‘‘continue, ‘‘anticipate,’’ ‘‘intend,’’ ‘‘expect,’’ ‘‘plan,’’ ‘‘position,” or the negative of those terms, and similar expressions that convey uncertainty of future events or outcomes are intended to identify estimates, projections and other forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, and such estimates, projections and other forward-looking statements speak only as of the date they were made, and, except to the extent required by law, the Company undertakes no obligation to update or review any estimate, projection or forward-looking statement. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in the Company’s business.

Investor Relations Contact
Leigh Salvo
ir@sientra.com

FAQ

Who is the new CFO of Sientra as of July 2021?

Andy Schmidt has been appointed as the new CFO of Sientra effective July 2021.

What previous experience does Andy Schmidt bring to Sientra?

Andy Schmidt has over 20 years of financial leadership experience, including roles as CFO at several publicly held companies.

What are Sientra's growth goals under the new CFO?

Sientra aims to become one of the top two breast implant companies in the US within two years.