ArthroCare Corp. (ArthroCare), a US-based medical devices company, has appointed Todd Newton as senior vice president and chief financial officer (CFO), effective April 2, 2009. Newton would report directly to David Fitzgerald, its acting president and chief executive officer (CEO). Most recently, Newton served in various executive positions at Synenco Energy Inc from 2004 to 2008, including as president and CEO, president and chief operating officer, and executive vice president and CFO.
“On behalf of ArthroCare’s Board and Management, I would like to welcome Todd as our new CFO,” said Fitzgerald. “We are fortunate to have a seasoned veteran like Todd as part of our team while we continue to work through the review and restatement of our past financial results. Todd’s broad range of financial, operational, strategic and accounting experience makes him an excellent addition to the Company and I know that he will be an asset as we work through our ongoing process and beyond.”
Newton led Synenco Energy’s IPO, which at the time was the largest IPO of any oil and gas company on the Toronto Stock Exchange during the preceding 10 years. As President, he led the post-IPO development of corporate systems and practices. Prior to this, Newton led Synenco Energy through an extensive restructuring program and strategic options review that eventually resulted in the sale of the company. Before joining Synenco Energy, Newton served in various positions at Deloitte & Touche LLP from 1984 to 2004, including as partner from 1994 to 2004. At Deloitte & Touche LLP Newton was responsible for delivery of the firm’s audit and advisory services to a number of its large, multi-national public company clients.
Newton earned a bachelor’s degree in business administration from the University of Texas at San Antonio, from which he graduated in 1984. Newton is a member of the Texas State Society of Certified Public Accountants and the American Institute of Certified Public Accountants. In the past, he has been a member of the Minnesota State Society of CPA’s and the Pennsylvania Institute of CPA’s.