Invitae Announces CFO Transition and Selection of Veteran Finance Executive Christine Gorjanc as Interim CFO
SAN FRANCISCO, May 25, 2023 /PRNewswire/ -- Invitae (NYSE: NVTA), a leading medical genetics company, today announced that Chief Financial Officer (CFO) Yafei (Roxi) Wen is resigning to pursue other opportunities, effective June 30, 2023. The Company has initiated a search for a new CFO. Ms. Wen will continue in her role through the end of the second quarter. Christine Gorjanc, the Company's longtime Chair of the Audit Committee of the Board of Directors, will assist during the transition and will assume the role of interim CFO, effective July 1, 2023. Ms. Wen will work closely with Ms. Gorjanc and the executive team to ensure a smooth transition. Ms. Wen's resignation is not the result of any disagreement with the Company on any matter related to the Company's operations, policies or procedures.
"We are immensely grateful for Roxi's significant contributions to the Company over the past two years, and appreciate her assistance during the transition. We wish her only the best in her future endeavors," said Ken Knight, president and chief executive officer of Invitae. "We are also fortunate that Christine is stepping in at this time. Christine's prior CFO experience with publicly-traded companies, her deep and relevant expertise in finance and accounting, along with her long-time tenure as the Chair of our Audit Committee with the Invitae Board of Directors, make her a great resource for Invitae while we conduct the search for our next CFO."
Ms. Gorjanc has been on the Company's Board of Directors and Chair of the Audit Committee since November 2015. She served as the CFO of Arlo Technologies, Inc. from August 2018 to June 2020. She previously served as CFO of NETGEAR, Inc. from January 2008 to August 2018 and also held the roles of chief accounting officer and vice president of Finance at NETGEAR, Inc.
Ms. Wen said, "It has been a privilege working alongside such exceptional teams, and I feel confident in the interim leadership of Christine, as the company looks to execute on its vision."
Invitae (NYSE: NVTA) is a leading medical genetics company trusted by millions of patients and their providers to deliver timely genetic information using digital technology. We aim to provide accurate and actionable answers to strengthen medical decision-making for individuals and their families. Invitae's genetics experts apply a rigorous approach to data and research, serving as the foundation of their mission to bring comprehensive genetic information into mainstream medicine to improve healthcare for billions of people.
To learn more, visit invitae.com and follow for updates on Twitter, Instagram, Facebook and LinkedIn @Invitae.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to Ms. Wen's future assistance and service with the Company; Ms. Gorjanc's future assistance and service as interim CFO; and the Company's efforts to hire a permanent CFO. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to: the company's ability to grow its business in a cost-efficient manner; the company's history of losses; the company's ability to maintain important customer relationships; the company's ability to compete; the company's failure to manage growth effectively; the company's need to scale its infrastructure in advance of demand for its tests and to increase demand for its tests; risks associated with litigation; the company's ability to use rapidly changing genetic data to interpret test results accurately and consistently; security breaches, loss of data and other disruptions; laws and regulations applicable to the company's business; and the other risks set forth in the company's filings with the Securities and Exchange Commission, including the risks set forth in the company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2023. These forward-looking statements speak only as of the date hereof, and Invitae Corporation disclaims any obligation to update these forward-looking statements.
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SOURCE Invitae Corporation
Company Codes: NYSE:NVTA