Venus Concept Inc., a global medical aesthetic technology leader, has announced that Rajiv De Silva has been appointed as the Company’s Chief Executive Officer and a member of the Board of Directors (the “Board”), effective October 2, 2022. The Company also announced the separation of Domenic Serafino as Chief Executive Officer and Director, effective October 2, 2022. This separation was not the result of any specific disagreement about strategy with management or the Board, inappropriate action, violation of company policy or any accounting irregularity.
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 and Director of Endo International Plc, a publicly traded multinational specialty pharmaceutical company. Prior to Endo, Mr. De Silva served as President of Valeant Pharmaceuticals International, Inc. (now Bausch Health) from 2010 to 2013, and as COO of Valeant’s Specialty Pharmaceuticals business, which included its flagship dermatology and aesthetics unit, from 2009 to 2013. From 2003 to 2008, he held multiple leadership positions within Novartis AG, including President, Novartis Pharma Canada. Mr. De Silva started his career in healthcare at McKinsey & Company in 1995, where he rose to Partner. Mr. De Silva has a BSE, Honors from Princeton University, an MS from Stanford University, and an MBA with Distinction from the Wharton School at the University of Pennsylvania.
“We are excited to have Rajiv join the Company to lead Venus Concept through its next stage of growth and development,” said Scott Barry, Chairman and Director of Venus Concept. “He is a seasoned executive with significant experience in larger, multinational healthcare companies. Rajiv has a proven track of record of managing companies through multiple stages of growth – both organically and inorganically – and through complex turnarounds that included organizational restructuring and capital structure transformation. With Rajiv at the helm, the Board feels the Company has a strong leader to execute its strategic objectives of achieving sustainable, profitable, growth in the global medical aesthetics and hair restoration markets and advancing product development, including our next generation robotic technology platform for medical aesthetic applications.”
Mr. De Silva commented: “I am delighted to join Venus Concept at a pivotal time for the company. I believe that the Company’s best-in-class products and cutting-edge R&D capabilities provide an exciting platform to create meaningful partnerships with aesthetics professionals and make a difference in the lives of consumers. I am excited by the opportunity to build on the Company’s past successes and achieve near-term profitability and sustainable, long-term growth.”
Mr. Barry continued: “On behalf of the Board, I would like to express to Dom our deep gratitude for his 12 years of service to our Company. From his early days as a co-founder, his vision and leadership fueled the notable growth of Venus Concept to an established, publicly-traded company today. His legacy will be substantial: he built a Company that is an innovative, global leader in the medical aesthetic technology market, with a broad product portfolio of minimally invasive and non-invasive medical aesthetic and hair restoration technologies. We wish him continued personal growth in his future endeavors.”