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Philips to Acquire Capsule Technologies Inc.

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Varex Announces New Chief Financial Officer

Varex Imaging Corporation has announced that effective July 27, 2020, Shubham “Sam” Maheshwari has joined Varex as its chief financial officer (CFO), where he will lead the company’s finance and information technology organizations.

“We are excited to have Sam join the Varex team,” said Sunny Sanyal, president and CEO of Varex. “Sam brings to Varex more than 20 years of experience in finance with private and public high-tech companies, and his experience will be instrumental in leading Varex into its next stage of growth.”

Maheshwari joins Varex from SiFive Inc., a provider of hardware and software solutions for developing RISC-V based processors and semiconductor chips, where he served as CFO. Before SiFive, he served for six years as CFO, and later as CFO and COO, of Veeco Instruments Inc., a manufacturer of semiconductor process equipment.

“I am especially pleased to join Varex, a company with strong competitive advantages and growth potential. I look forward to applying my knowledge and financial experience to help Varex achieve its margin and profitability goals,” said Maheshwari.

Maheshwari replaces Clarence Verhoef, who announced in February that he would be retiring as CFO of Varex. In accordance with his transition agreement, Verhoef will be continuing as a non-executive employee of Varex to ensure a smooth transition. “On behalf of all of us at Varex I want to thank Clarence for his 15 years of service with Varex and Varian Medical Systems Inc., particularly over the last four years through the establishment and spinoff of Varex as an independent public company,” said Sanyal. “We thank Clarence for his leadership and wish him all the best.”

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