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."
About Invitae
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.
Safe Harbor Statement
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.
Invitae Contacts:
Investor Relations
Hoki
Luk
ir@invitae.com
Public Relations
Amy
Hadsock
pr@invitae.com
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SOURCE Invitae Corporation