Cynosure (CYNO) Appoints New CFO

September 13, 2016 8:35 AM EDT

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Cynosure, Inc. (Nasdaq: CYNO) announced that Stephen J. Webber will join the Company on October 10, 2016 as Executive Vice President. Mr. Webber will then become Chief Financial Officer and Chief Accounting Officer effective upon the filing in November of Cynosure's Quarterly Report on Form 10-Q for the quarter ending September 30, 2016. He will succeed Timothy W. Baker, who in May announced his planned retirement from Cynosure to pursue philanthropic interests. Mr. Baker will serve in a consulting role during a transition period expected to continue through March 2017.

"Steve brings a 20-year record of financial leadership, multi-national business experience and strategic expertise to Cynosure," said President and Chief Executive Officer Michael Davin. "His success at EMC in areas such as acquisition integration and strategic planning helped drive bottom line results for multiple business units, including Virtustream. Steve's skills, knowledge and background make him an ideal person to advance the strong foundation of financial and operational excellence built under Tim's stewardship as CFO for the past 12 years."

Mr. Webber, 46, joins Cynosure from Virtustream, where he was Chief Financial Officer since 2015. He previously served in multiple financial leadership roles at EMC Corporation, Virtustream's former parent, which was acquired last week by Dell.

"I am delighted to join Cynosure and am excited to work with Michael and the other members of the leadership team, as we focus on continuing to deliver shareholder value through profitable growth," Mr. Webber said. "I have been privileged to be part of companies driven by an entrepreneurial spirit and an innovative, collaborative culture. Cynosure is just such an organization."

From 2012 to 2015, Mr. Webber was Senior Vice President of Finance and Operations at EMC, supporting the Global Enterprise Services organization. During a 19-year career at EMC, Mr. Webber was promoted to leadership positions of increasing responsibility, including corporate finance, international finance, sales finance and operations for Latin America and business partner roles supporting the Enterprise Software Division and Global Services. Before that, he spent four years at Deloitte & Touche LLP in Boston in the audit practice with a focus on public companies. Mr. Webber received a B.S. in accounting and an MBA from Babson College.

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