Establishment Labs today announced that its chief financial officer Renee Gaeta will be stepping down later this month and Raj Denhoy will be her interim replacement.
Santa Barbara, Calif.–based Establishment Labs — maker of Motiva Implants for breast reconstruction — said Gaeta is stepping down to pursue other opportunities outside of the company on July 30 following the planned release of the second quarter financial results.
“I am grateful for my time at Establishment Labs,” Gaeta said in a news release. “When I joined in 2017, we were a private company excited to achieve $35 million in annual sales. Now, just four years later, we are a public company with more than three times the revenue, an ongoing FDA trial, and we are preparing to build our third facility to meet demand. I have complete faith in Establishment Labs’ ability to achieve its goal of being the global leader in breast aesthetics and reconstruction. It has been a wonderful experience and my decision to leave was not easy, but I am ready for a new challenge closer to my home in California.”
“On behalf of myself, the Board of Directors, and the entire Establishment Labs family, I want to thank Renee for her extraordinary contributions over the past four years,” founder and CEO Juan José Chacón-Quirós said. “As evidenced by our strong second-quarter sales results, she is leaving us with great momentum and in a good financial position. We wish her continued success in all her future endeavors.”
Gaeta’s replacement Denhoy joined Establishment Labs in February as its head of strategy and investor relations. Prior to joining the company, he was a managing director at Jefferies Group where he led the U.S. medical device research team.
“I am pleased to announce the appointment of Raj Denhoy as our CFO on an interim basis,” Chacón-Quirós said. “His knowledge of our business and his extensive experience in finance and medical technology make him a natural choice to support our continued growth. I have enjoyed working with him over the past few months and appreciate his taking on this important role in our company.”