Cancer Genetics, Inc. Announces Consolidation in Administrative and Operational Support Functions; Commits to Reduction in the Workforce; Announces Executive Changes
On January 06, 2017 the company announced a further consolidation and cost reductions in the company's administrative, finance and operational support functions, which management believes will aid in leading the company on a path to profitability. The company has further integrated finance and administrative functions across the US operations and finalized implementation of key financial ERP and HR systems that enable greater efficiency. As a result of the streamlining, the company has implemented a headcount reduction across administrative and support roles, and has restructured functions to achieve greater operational efficiency.
On January 6, 2017, the company announced that as part of the reduction in workforce, Edward J. Sitar will cease to serve as the company's Chief Financial Officer effective February 3, 2017. Mr. Roberts, the Company's Chief Operating Officer and Executive Vice President, Finance, will act as the company's principal financial officer and the company has promoted Victor Cross, MBA, CPA, to the position of principal accounting officer. Mr. Cross joined the company as its controller in October 2016. Prior to joining the company, Mr. Cross worked for Mettler Toledo International from 2015 to October 2016 as the Controller. Prior to that he worked at Bristol-Myers Squibb Company from 2001 to 2015. At Bristol Myers, Mr. Cross held positions of increasing responsibilities, with the most recent role as Financial Controller for their biologics manufacturing and process development operation in Syracuse, NY.