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Affymetrix, Inc. (AFFX) Appoints Gavin Wood As VP, CFO

|Includes: Affymetrix, Inc. (AFFX)

Affymetrix recently announced the appointment of Gavn Wood to the positions of Vice President and Chief Financial Officer, after having served as VP of Finance and International Controller. Wood will report to president and CEO Frank Whitney. Current CFO Tim Barabe is expected to retire from Affymetrix effective June 28, 2013.

Santa Clara, CA-based Affymetrix is focused on developing technology that enables multiplex and parallel analysis of biological systems at the cell, protein, and gene level. The company maintains a portfolio of transitional and clinical solutions that enable scientists to translate their research into understanding underlying disease mechanisms, identifying biomarkers for personalized medicine, creating new molecular diagnostic tests, and improving genetic marker-assisted breeding programs in agriculture.

Wood joined Affymetrix in 2006; beyond his VP Finance and International Controller duties, he has managed the integration and consolidation of a number of European acquisitions (most recently eBioscience), as well as restructuring the support organization and providing leadership to the European commercial team.

"I am very excited to have the opportunity to lead our global finance organization," said Wood. "Our priorities are clear, including returning to growth and sustained profitability and strengthening our balance sheet. I look forward to working with the executive team to deliver on our strategic plan to grow the business in translational medicine, clinical diagnostics and the applied markets."

Frank Witney, president and CEO of Affymetrix, said, "I firmly believe that we need a CFO that understands the dynamics of our business and has the knowledge and energy to drive change in an organization that is in transformation. As a senior leader of our international team since 2006, Gavin has consistently proven that he can do that. I'd like to extend a welcome to Gavin and his family who will be relocating to California. I would like to thank Tim [Barabe] for the contributions that he has made to Affymetrix and wish him well in his future endeavors."

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