Venus Concept Taps Endo's Former CEO As New Chief Executive, Withdraws FY22 Guidance

Venus Concept Inc VERO appointed Rajiv De Silva as the company's CEO and board member, effective October 2.
The company also announced the separation of Domenic Serafino as Chief Executive Officer and Director, effective October 2, 2022.
Mr. De Silva currently serves as the Chairman of Covis Pharma, a privately-held, multinational specialty pharmaceutical company, and is a co-founder of Asiri Skincare, a privately-held company focused on topical consumer therapeutic skincare products.
From 2013 to 2016, he served as President, CEO & Director of Endo International Plc ENDPQ.
In connection with Rajiv De Silva's appointment as Chief Executive Officer, the company has withdrawn its previously issued revenue guidance for FY22, which was last updated on August 12.
The company expected FY22 revenue of $110-$113 million, representing a Y/Y increase of approximately 4% to 7%.
While Venus Concept is evaluating potential near-term growth and profitability expectations under new leadership, it is providing preliminary Q3 2022 revenue expectations in the interest of transparency.
It expects to deliver total revenue of at least $21 million for the three months ended September 30.
Price Action: VERO shares are down 6.16% at $0.41 on the last check Monday.