Veracyte (VCYT) Names New CFO

November 21, 2016 8:02 AM EST

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Veracyte, Inc. (Nasdaq: VCYT) announced the appointment of Keith Kennedy as chief financial officer. Mr. Kennedy, the former president and chief executive officer of MCG Capital Corporation (NASDAQ: MCGC), will join Veracyte effective December 6, 2016. He will succeed Shelly Guyer, who earlier this year announced her plan to step down as CFO and who has continued in the role to ensure a smooth transition.

"With three commercial products and a strong financial foundation, we believe Veracyte is well-positioned for profitable growth as we target a combined market opportunity of over $2 billion," said Bonnie Anderson, the company's president and chief executive officer. "Building on the solid base that Shelly and her team have established, Keith's deep expertise in financial strategy and operations, coupled with his knowledge of the healthcare sector, will support our efforts to transform disease diagnosis while delivering exceptional value to our shareholders."

Mr. Kennedy joins Veracyte with over 20 years of executive experience in finance. As president and chief executive officer of MCG Capital, Mr. Kennedy led strategy and operations for the publicly held commercial finance company and assumed various board roles and oversight responsibilities for its portfolio companies in health care and other industries. He led MCG Capital's successful sale to PennantPark Floating Rate Capital Ltd. in 2015 and consulted for PennantPark Investment Advisors, LLC after the sale. Mr. Kennedy previously served as MCG's chief financial officer, chief accounting officer and treasurer. Prior to MCG, Mr. Kennedy served as a healthcare executive-in-residence at Arlington Capital Partners and a managing director at GE Capital. Prior to GE Capital, Mr. Kennedy worked for Ernst & Young LLP and served as an officer in the U.S. Air Force. Mr. Kennedy received his M.B.A. from The College of William & Mary and Bachelor of Science with high distinction from Indiana University. Mr. Kennedy is a chartered financial analyst and certified public accountant.

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