Monday, dermatological products maker PhotoMedex, Inc. (PHMD) said that its president and chief executive officer, Jeffrey O'Donnell, has resigned from the company and the board to pursue other business interests. The board named current chief financial officer Dennis McGrath as its new president and CEO, effective immediately.
The new CEO, McGrath, has been serving the company as CFO since joining in January 2000.
"Over the years he has demonstrated to us his thorough understanding of all aspects of our business and we are confident in his ability to strategically leverage the global presence we have established," stated Richard DePiano, chairman of the board, about McGrath's appointment.
PHMD is currently trading at $1.00 per share, up 5.26%, on the Nasdaq.
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