– USA, CA – Sientra, Inc. (NASDAQ:SIEN) a medical aesthetics company, announced that Jeffrey Nugent has been appointed Chairman and Chief Executive Officer, effective immediately. Mr. Nugent is a highly accomplished pharmaceuticals and medical device industry executive, and has served on the Board of Directors of Sientra since July 2014. He succeeds Hani Zeini, who is stepping down from his role as President and Chief Executive. Mr. Zeini will continue to serve on the Sientra Board of Directors, and will also serve as a consultant to the Company. Nicholas Simon is stepping down from his role as Chairman, and will continue to serve on the Sientra Board of Directors.
Nicholas Simon, Member of Sientra’s Board of Directors, said, “Jeff is a leader whose record shows a relentless focus on execution and high performance, and we are fortunate to have an executive of his caliber to take Sientra forward. Jeff’s decades of experience leading companies in the pharmaceuticals and medical device industry and intimate knowledge of the Company make him uniquely qualified to lead Sientra at this critical juncture. As Chairman and CEO, Jeff will undertake a full assessment of our business, review the progress of efforts to resume product distribution, carefully evaluate our manufacturing strategy and assess additional, complementary product opportunities. The Board is confident that Jeff is the right person to restore Sientra’s momentum and ensure that Sientra is back on the right path to drive growth and shareholder value creation.”
Mr. Simon continued, “We are grateful for Hani’s vision and unwavering dedication to Sientra since its founding. Hani’s commitment to Sientra has been, and will continue to be, a key driver of Sientra’s success. We look forward to his continued guidance and support as a member of the Board and believe Hani will ensure a smooth transition through his role as a consultant.”
Jeffrey Nugent, Chairman and Chief Executive Officer of Sientra, said, “I am honored to take on the role of CEO during this important time for our company. While we must address the challenges facing the Company, Sientra remains a great business. We have a strong brand value proposition, a base of loyal surgeons and unique and differentiated products. Our immediate priority is to resolve the outstanding regulatory questions, maximize our existing inventory and ensure a stable manufacturing process moving forward. I am committed to developing and executing a comprehensive plan to drive shareholder value and provide our surgeons and patients with Sientra’s high-quality breast implants as soon as possible. I look forward to working with Hani and the rest of the leadership team to position Sientra for future success.”
Hani Zeini, Founder and Board Member of Sientra, said, “It has been an honor to lead our extraordinary team and to grow Sientra into the leading medical aesthetics company it is today. The Company is at a key inflection point and the Board and I agree that now that is the right time for new leadership. I am confident that Jeff and the management team will successfully lead Sientra through this chapter. I am a significant shareholder and look forward to my ongoing roles with the Company as both advisor and director. Jeff has my full confidence and support as we move forward.”
Headquartered in Santa Barbara, California, Sientra is a medical aesthetics company committed to making a difference in patients’ lives by enhancing their body image, growing their self-esteem and restoring their confidence. The Company was founded to provide greater choice to board-certified plastic surgeons and patients in need of medical aesthetics products. The Company has developed a broad portfolio of products with technologically differentiated characteristics, supported by independent laboratory testing and strong clinical trial outcomes. The Company sells its breast implants and breast tissue expanders exclusively to board-certified and board-admissible plastic surgeons and tailors its customer service offerings to their specific needs. The Company also offers a range of other aesthetic and specialty products.
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