Yuen replaces president and chief financial officer Sri Kosaraju. Kosaraju will continue to serve as president following the appointment.
Prior to joining Penumbra, Yuen held a number of leadership roles in the manufacturing, medical devices and life sciences industries. She has more than 20 years of experience and most recently served as VP of finance of the genetic science division at Thermo Fisher Scientific. Yuen has held leadership roles at Mirion Technologies, Boston Scientific, Blu Mobile and Johnson & Johnson.
“We are excited to welcome a leader of Maggie’s caliber to Penumbra,” Kosaraju said in a news release. “She brings key experience and capabilities that will complement our team as we continue to expand our markets, penetration and global presence.”
Shiu joined Penumbra in 2015 and served as the director of finance and VP of finance and accounting. Prior to joining the company, Shiu worked for PricewaterhouseCoopers.
Alameda, Calif.-based Penumbra currently develops a neurovascular device. The company recently launched a trial for its Indigo blood clot aspiration device that is designed to remove clots from arteries and veins in the peripheral vasculature by delivering continuous vacuum suction to its aspiration catheters to treat thrombus in vessels.
“Our team has been a critical part of our growth, and developing, retaining and attracting talent is important to executing on our strategy,” CEO Adam Elsesser said. “Today’s announcement, and the addition of Maggie to our team embodies the best of Penumbra – it is an important step forward in continuing to build our organization and our company. I am excited for Maggie and also for the broader Penumbra team.”