PLEASANTON, Calif., Sept. 10, 2012 (GLOBE NEWSWIRE) -- ZELTIQ Aesthetics, Inc. (Nasdaq:ZLTQ) a medical technology company focused on developing and commercializing products utilizing its proprietary controlled-cooling technology platform, today announced that Mike Genau, President of its North American Franchise (NAF), has resigned from the company, effective September 21st, to pursue a new career opportunity, and will work with management to ensure a smooth transition process.
Mark Foley, President and Chief Executive Officer, said, "Since Mike joined ZELTIQ earlier this year, he has worked closely with senior management to successfully implement a number of changes that have both strengthened and improved the productivity of our north american sales organization. This success was evidenced by the traction we showed in our second quarter results. Mike leaves behind a well organized sales team, with clearly defined goals and objectives, and we have great confidence that they will continue to execute as we search for new sales leadership. On behalf of the Board of Directors, I would like to thank Mike for the contributions he has made to ZELTIQ and wish him luck in his new endeavor. We remain committed to building out a best-in-class leadership team that can assist us in achieving our long-term growth objectives."
ZELTIQ® Aesthetics is a medical technology company focused on developing and commercializing products utilizing its proprietary controlled-cooling technology platform. The Company's first commercial product, the CoolSculpting® System, is designed to selectively reduce stubborn fat bulges that may not respond to diet or exercise. CoolSculpting is based on the scientific principle that fat cells are more sensitive to cold than the overlying skin and surrounding tissues. CoolSculpting utilizes patented technology of precisely controlled cooling to reduce the temperature of fat cells in the treated area, which is intended to cause fat cell elimination through a natural biological process known as apoptosis, without causing scar tissue or damage to the skin, nerves, or surrounding tissues. ZELTIQ developed CoolSculpting to safely, noticeably, and measurably reduce the fat layer within a treated fat bulge without requiring the patient to diet or exercise.
This press release contains forward-looking statements relating to the company's current and future business operations and financial performance and condition. Any statements contained in this press release that are not of historical facts may be deemed to be forward-looking statements. You should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond our control and that could materially affect the company's actual business operations and financial performance and condition. Factors that could materially affect our business operations and financial performance and condition include, but are not limited to, less than anticipated growth in the number of physicians electing to purchase CoolSculpting Systems, insufficient patient demand for CoolSculpting procedures, product or procedure announcements by competitors, our failure to correctly estimate and control our future expenditures, and the failure of our sales and marketing plans to increase sales as well as those other risks and uncertainties set forth in our Annual Report on Form 10-K for the fiscal year ended December 31, 2011, filed with the SEC on March 15, 2012. These forward-looking statements speak only as of the date of this press release. We expressly disclaim any obligation to update information contained in these forward-looking statements whether as a result of new information, future events, or otherwise.
CONTACT: MEDIA CONTACT: Shari Gold GOLD PR for ZELTIQ 714-251-0375 INVESTOR RELATIONS: Mark Foley ZELTIQ, President and CEO 925-474-2500 Nick Laudico / Amy Glynn The Ruth Group for ZELTIQ 646-536-7030 / 7023
ZELTIQ Aesthetics, Inc.
Pleasanton, California, UNITED STATES
MEDIA CONTACT: Shari Gold GOLD PR for ZELTIQ 714-251-0375 INVESTOR RELATIONS: Mark Foley ZELTIQ, President and CEO 925-474-2500 Nick Laudico / Amy Glynn The Ruth Group for ZELTIQ 646-536-7030 / 7023
Day's Range: 18.58-19.57
Previous Close: 19.26
Market Cap: 715.92M
Day's Volume: 223,742
ZELTIQ Aesthetics, Inc. logo