CUTR - Cutera new advisor Taylor Harris said to be likely CEO candidate
2023-05-12 15:20:30 ET
Taylor Harris, who was appointed to the Cutera ( NASDAQ: CUTR ) board earlier this week amid a cooperation agreement with two large shareholders, is said to be a likely candidate for the chief executive job.
Harris, who will also serve as a special advisor and consultant to the company, may be a potential candidate for the CEO job, a person familiar told Seeking Alpha, after former CEO David Mowry exited last month.
Harris was the chief financial officer of Zeltiq, where he served from February 2016 until the company was acquired by Allergan for $2.48 billion in April 2017, with the stock jumping 145% since he joined through its sale.
Harris' appointment "suggests that he may be a potential candidate to step in as CEO," William Blair analyst Margaret Kaczor wrote in a Wednesday note. " If this were to happen, we believe this would be a positive development for the company as he would have a head start and ownership of the strategy for the company."
Cutera ( CUTR ) announced in a statement on Friday that its resolved its dispute with former CEO Mowry, who agreed to resign from the board. Mowry also withdrew his demand for the special meeting.
Under the cooperation agreement reached on Tuesday with shareholders Pura Vida Investments and RTW Investments, Cutera ( CUTR ) is also adding Kevin Cameron, Nicholas Lewin and Keith Sullivan to the board.
Lewin is the chairman of Establishment Labs ( ESTA ), an aesthetics company, whose stock has appreciated 270% since its IPO in 2018. Sullivan, the former chief commercial officer at Zeltiq, has been the CEO of Neuronetics ( STIM ) since July 2020, and the stock has climbed 50% since his appointment.
More on Cutera
For further details see:
Cutera new advisor Taylor Harris said to be likely CEO candidate