After 4 years at the helm of Yokham, Israel-based Syneron Medical (NSDQ:ELOS), Louis Scafuri is walking away from the corner office of the aesthetic medical device company effective immediately.

Co-founder Shimon Eckhouse, who served as Syneron CEO from its founding in 1992 to 1999, was tapped to replace the outgoing Scafuri. Eckhouse will also serve as chairman, according to a press release.

Scafuri took over as chief executive in 2009 and led the company through a $65 million merger with Wayland, Mass.-based Candela Corp. in 2010. The company reported more than $264 million in sales in 2012.

In prepared remarks, Scafuri said he felt it was an "appropriate time" to step away from the company.

"The company is now better positioned to operate in the new global economic environment," he said. "It has been an honor to serve as the company’s CEO, and I am proud of the accomplishments we have achieved over the past 4 years."

Analysts on Wall Street were surprised by the move, but said it didn’t indicate a significant change in strategy at Syneron.

"The stock’s underperformance today (in a down market) is understandable as the management transition is unexpected and comes at a time when ELOS seems to finally be ‘getting its groove back,’" wrote Richard Newitter, an analyst at investment bank Leerink Swann, in a note to investors today.

ELOS shares were down 2.3% in early trading today to $8.65 apiece.