ATHENAHEALTH CHIEF FINANCIAL OFFICER CARL BYERS TO STEP DOWN IN 2010
WATERTOWN, Mass. (June 04, 2009) – athenahealth, Inc. (NASDAQ: ATHN), today announced that Carl Byers has informed the Company of his intention to step down as Chief Financial Officer and Senior Vice President in early 2010 to pursue a family goal to live abroad. Byers indicated that he will assist in the search for a new senior executive and will serve as long as needed to ensure an orderly transition.
“Carl and I go back to well before the start of athenahealth,” said Jonathan Bush, athenahealth’s Chairman and CEO. “As CFO, Carl successfully led our financing efforts, including our IPO, and has built high-caliber infrastructure to support the Company’s continued growth. Though we understand that this is the best time for his family to make this change, we will miss his intellect, humor and wisdom.”
“Helping to build athenahealth over the past twelve years has been the professional adventure and accomplishment of my life,” said Carl Byers. “I’m deeply grateful for the experience of working alongside amazing innovators pursuing a profound mission and look forward to executing the important work we have in front of us this year. I have every confidence in the Company’s continued success given the remarkable team of professionals here developing athenahealth’s tremendous potential.”
A search committee will be led by athenahealth Board member and Audit Committee chair John A. Kane, who served as Chief Financial Officer and Treasurer of health information technology company IDX Systems Corporation for over 20 years. The Committee will include Byers, Bush, Kane and athenahealth Board member Ann H. Lamont, Managing Partner at Oak Investment Partners. James Carpenter of J. Carpenter & Co. has been retained by the Committee to lead the search.
“Carl brought terrific leadership to this role and built an excellent financial organization with significant depth,” said Kane. “I look forward to working with Carl, Jonathan and the Board as we search for a new senior executive in the months to come. Given the Company’s track record of success, its unique culture and its vast market opportunity, I am confident we will find a worthy successor to serve as a senior leader going forward.”
During the past year, Byers’ responsibilities at the Company expanded to cover Legal and Internal Systems, in addition to Finance, Treasury and Investor Relations. Within this new organization, the Company consolidated all accounting, planning and other finance functions under Dawn Griffiths, Vice President of Finance. Effective July 1, 2009, the Company will appoint Griffiths to the position of Chief Accounting Officer and Treasurer. Griffiths brought more than 20 years of finance and accounting experience to athenahealth when she joined the Company one year ago from Salesforce.com, where she served as Vice President of Finance. Prior to that, Griffiths held numerous finance and operations management roles at Autodesk, Inc. Griffiths started her career in public accounting with eight years at Arthur Andersen and is a Certified Public Accountant.
“Dawn is a great example of strong leadership at athenahealth,” Byers added. “As my role broadened, Dawn assumed full responsibility for all finance functions. In that capacity, she has already made improvements in the way we operate. With added responsibility as Treasurer, Dawn will be able to extend her positive influence on the financial operations of the Company.”
Source: ATHENAHEALTH
