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Varian Medical Systems, Inc.

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VAR

US92220P1057

Varian Medical Systems Inc. Announces Executive and Board Changes

August 13, 2012 at 06:00 pm IST

Varian Medical Systems Inc. announced that Timothy E. Guertin has declared his intention to retire as the company's President and CEO at the end of the company's current fiscal year on September 28, 2012. Varian's Board of Directors has elected Dow R. Wilson, 53, the company's current Executive Vice President and Chief Operating Officer, to become Varian's President and CEO upon Guertin's retirement. The board also appointed Guertin, 62, as its vice chairman and appointed Wilson to the board, both effective as of September 29, 2012.

Guertin will continue as a non-executive employee of the company until his retirement in February 2013. Wilson assumed responsibility for all of Varian's businesses upon his appointment as Chief Operating Officer in October of 2011. The Varian Board of Directors is expanding by two seats.

The company separately announced that Erich R. Reinhardt, Ph.D., former President and CEO of Siemens Healthcare, was appointed to the board effective August 10, 2012. Wilson's board appointment on Sept. 29, 2012 will increase the size of the Varian board to 11 members.

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Varian Medical Systems, Inc. is a manufacturer of medical devices and software for treating cancer and other medical conditions with radiotherapy, cardiac radioablation, radiosurgery, proton therapy and brachytherapy. The Company also has Varian Particle Therapy (VPT) and the operations of the Ginzton Technology Center (GTC). Its VPT business develops, designs, manufactures, sells and services products and systems for delivering proton therapy, another form of external beam radiotherapy using proton beams for the treatment of cancer. Its ProBeam system is capable of delivering intensity modulated proton therapy (IMPT) using pencil beam scanning technology. Its ProBeam Compact is a single room proton therapy product. Through its subsidiary, Cooperative CL Enterprises, the Company distributes radiotherapy equipments in Taiwan.

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