Quanterix Corporation saw its shares slip in premarket trading on Tuesday after the company disclosed the appointment of Jason Faessler as its new chief financial officer, effective June 22. The stock moved lower by 3.1% in the premarket session following the disclosure.
Faessler joins Quanterix from Bruker Corporation, where he served as Senior Vice President with responsibility for leading global financial planning and analysis and the Americas Finance organization. At Bruker, his remit included strategic planning, operational finance, and capital decision-making.
Before his tenure at Bruker, Faessler occupied senior finance leadership roles at PAREXEL, where he led the Early- and Late-Phase Clinical divisions. His résumé also includes senior financial management positions at EMC, now Dell, and at Harvard Business Publishing.
Quanterix characterized Faessler's background in the life science tools industry as relevant to the company’s plans for strategic growth. The company highlighted his expertise in strategic financial and capital planning, operational excellence, and commercial support as attributes it expects will aid execution of its growth objectives.
Quanterix develops biomarker detection technology used in healthcare applications. The company operates two scientific instrument platforms and has an emerging diagnostics capability. The announcement of a new finance chief came against this operational backdrop and was met by a modest downward move in the company’s share price in premarket trading.
Context and implications
The appointment establishes a new senior finance leader with experience spanning life science tools, clinical services finance, and corporate financial management. The company has framed that experience as supportive of its strategic growth plans, citing capabilities in financial planning and capital decision-making. The market’s immediate response was a 3.1% fall in premarket trading.
What we know
- Jason Faessler will become Quanterix’s CFO on June 22.
- He previously was Senior Vice President at Bruker Corporation, overseeing global FP&A and the Americas Finance organization with duties that included strategic planning, operational finance, and capital decision-making.
- Earlier roles include senior finance leadership at PAREXEL, and senior financial management positions at EMC (now Dell) and Harvard Business Publishing.
- Quanterix said Faessler’s life science tools industry experience will support its strategic growth plans and noted his expertise in strategic financial and capital planning, operational excellence, and commercial support.
- Quanterix operates two scientific instrument platforms and an emerging diagnostics capability focused on biomarker detection for healthcare applications.
Market reaction
The initial market response to the CFO appointment was a 3.1% decline in premarket trading on Tuesday. That move reflects investor activity around the leadership change announced by the company.