Kevin Sayer Assumes Role of President and Chief Executive Officer; Terry Gregg Transitions to Role of Executive Chairman
SAN DIEGO--(BUSINESS WIRE)-- DexCom, Inc. (NASDAQ:DXCM) today announced that Kevin Sayer, currently the Company’s President and Chief Operating Officer, has assumed the role of President and Chief Executive Officer to succeed Terry Gregg, who is transitioning to the role of Executive Chairman after more than seven years of service as DexCom’s President and Chief Executive Officer.
Mr. Sayer has served as DexCom’s President and Chief Operating Officer since January 2013, as President since June 2011, and as a board member since November 2007. From April 2007 to December 2010, Mr. Sayer served as Chief Financial Officer of Biosensors International Group, Ltd. (“Biosensors”), a medical technology company developing, manufacturing and commercializing medical devices used in interventional cardiology and critical care procedures.
Previously, Mr. Sayer served as Chief Financial Officer of MiniMed, Inc. from 1994 until its acquisition by Medtronic, Inc. in 2001. He also has served as Executive Vice President and Chief Financial Officer of Specialty Laboratories, Inc., and as an independent healthcare and medical technology industry consultant. Mr. Sayer received his Master’s Degree in Accounting and Information Systems concurrently with a B.A., both from Brigham Young University.
“We have meticulously planned this succession to be as seamless as possible over the past 12 months and we have achieved our goal. The board of directors and I have tremendous confidence in Kevin’s leadership ability, and we are confident that he will to continue to drive DexCom to new heights of success and to fulfill our potential. Kevin and I share the same vision for DexCom and the patients we serve, a vision we have held together for nearly two decades,” said Terry Gregg.
Terry Gregg has served as DexCom’s President and CEO from June 2007 and as the company’s CEO since June 2011. During his tenure he led DexCom from a company with nominal revenues to a company at the forefront of the continuous glucose monitoring category with industry-leading technology.
“Terry is one of the most respected and successful business leaders in medical device technology and remains a passionate advocate for people with diabetes,” said Kevin Sayer. “Under his guidance, DexCom has accomplished what many other larger and better resourced companies have failed to do. Terry has built a strong core team, developed a robust technology platform, created a full research and development pipeline and commercialized a game-changing technology that is helping improve the lives of people living with diabetes and I look forward to maintaining a close working relationship with Terry in his new role as Executive Chairman,” continued Mr. Sayer.
Mr. Gregg added, “We have accomplished a great deal over the past several years following Kevin’s appointment as President, and I feel quite comfortable that now is an appropriate time to transition day-to-day leadership to Kevin. This transition will help me continue to direct more of my energies on developing and refining our corporate strategy, and to enhancing DexCom’s external relationships with customers, and key constituents, both domestically and internationally,” continued Mr. Gregg.
About DexCom, Inc.
DexCom, Inc., headquartered in San Diego, California, is developing and marketing continuous glucose monitoring systems for ambulatory use by patients and by healthcare providers in the hospital.
Cautionary Statement Regarding Forward Looking Statements
DexCom is a medical device company with a limited operating history. Successful commercialization of the company’s products is subject to numerous risks and uncertainties, including a lack of acceptance in the marketplace by physicians and patients, the inability to manufacture products in commercial quantities at an acceptable cost, possible delays in the company’s development programs, the inability of patients to receive reimbursement from third-party payors and inadequate financial and other resources. Certain of these risks and uncertainties, in addition to other risks, are more fully described in the company’s quarterly report on Form 10-Q for the quarter ended September 30, 2014, as filed with the Securities and Exchange Commission on November 6, 2014.
DexCom, Inc.
Steven R. Pacelli, 858-200-0200
Executive Vice President, Strategy and Corporate Development
Source: DexCom, Inc.
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