Sientra Announces Departure of CFO and Appointment of Interim CFO
Sientra (NASDAQ: SIEN) announced that Chief Financial Officer Paul Little is resigning effective March 12, 2021, to pursue other opportunities. Valerie Miller, the current Vice President, will serve as interim CFO during the search for a successor. Mr. Little's departure is not related to any disagreements over accounting practices. The leadership transition is expected to have no material impact on the company's operations. Sientra remains confident in its growth prospects, supported by its innovative medical aesthetics products.
- Valerie Miller's interim CFO role may bring strong familiarity with the company's financial operations.
- Sientra is well-capitalized, suggesting financial stability during the leadership transition.
- Paul Little's departure may create uncertainty regarding financial leadership continuity.
SANTA BARBARA, Calif., March 11, 2021 (GLOBE NEWSWIRE) -- Sientra, Inc. (NASDAQ: SIEN) (“Sientra” or the “Company”), a medical aesthetics company uniquely focused on plastic surgeons, today announced that Paul Little is stepping down from his position as Chief Financial Officer, Senior Vice President and Treasurer, to pursue other opportunities effective March 12, 2021. Valerie Miller, current Vice President, Corporate Controller, will serve as interim Chief Financial Officer effective upon Mr. Little’s resignation as the Company completes its search for a permanent replacement.
“We thank Paul for his diligent work and greatly appreciate all his contributions to our team through his tenure at Sientra,” said Ron Menezes, President and Chief Executive Officer of Sientra. “He was integral in positioning our company for durable future growth by strengthening our balance sheet and driving efficiencies to accelerate our path to revenue growth and we wish him well in his future endeavors.”
“It has been a privilege to work alongside the entire Sientra team and to have been a part of the company’s growth story,” said Mr. Little. “While stepping down was a difficult decision, and one based solely on personal reasons, I am confident that Sientra will remain on a solid path forward under Ron’s leadership.”
Mr. Menezes added, "Given her strong knowledge of our business and financial reporting standards I have great confidence in Ms. Miller’s ability to lead the finance team on an interim basis as we recruit a new Chief Financial Officer. We expect that the transition will have no material impact on our operations, and we remain confident in our near-term growth prospects as we remain well capitalized with a highly efficient team."
Ms. Miller joined Sientra in September 2017 as Vice President, Corporate Controller and has since been responsible for the accounting and finance functions of the Company. Prior to joining Sientra, Ms. Miller served as Corporate Controller at The Trade Desk, Inc. and as Senior Director of Finance & Accounting at LinkedIn. Previously, she served as a Vice President on the finance team of Mentor Worldwide, a subsidiary of Johnson & Johnson. Ms. Miller holds a Bachelor’s in Economics from the University of California, Santa Barbara.
Mr. Little’s departure is not related to any disagreement with the company’s accounting principles or practices or financial statement disclosures.
About Sientra
Headquartered in Santa Barbara, California, Sientra is a medical aesthetics company uniquely focused on plastic surgeons. The Company offers a suite of products designed to make a difference in patients' lives by enhancing their body image, growing their self-esteem, and restoring their confidence. 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(*). The Company’s miraDry Segment, comprised of its miraDry® system, is approved for sale in over 56 international markets and is the only non-surgical, FDA-cleared device indicated for the permanent reduction of underarm sweat and hair and may also reduce odor.
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. These statements include statements regarding the CFO transition and employment matters related thereto and the Company’s growth prospects. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties, many of which are beyond our control, include risks described in the section entitled “Risk Factors” and elsewhere in our filings made with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof and should not be unduly relied upon. Sientra disclaims any obligation to update these forward-looking statements.
Contact
Investor Relations
805-679-8885
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