IsoRay Names New CEO

Richland, Wash.-based IsoRay Inc., which makes seed brachytherapy and medical radioisotope applications for the treatment of prostate, brain, lung, head and neck and gynecological cancers, has appointed Thomas LaVoy as CEO effective Feb. 15. He was previously appointed chairman of the board when the former chairman retired on Jan. 7.

“I am very excited about the new direction I plan to take this company,” said LaVoy, who has served on the board of directors since 2005. “I plan on spending significant time in Richland, Wash. at the manufacturing facility. My initial focus will be to locate talented sales representatives and restructure the marketing and sales teams. I am very excited to have Dr. Philip Vitale on the board to assist with overseeing how the bompany can better serve the physician community. I am also excited to have fellow board member Mick McCormick to assist with developing a new marketing strategy plan. The board of directors believes it is now time to focus more on how to increase our revenues, particularly in our core prostate applications.”

LaVoy brings more than 35 years experience leading and building successful, publicly traded businesses. With SuperShuttle International, a leader in the transportation industry, he serves as deputy chief operating officer, president of corporate services and chief financial officer (CFO), and has given his notice of resignation from these positions. LaVoy was instrumental in developing SuperShuttle’s strategic growth plans which included: revenue growth from $35 million in 1997 to more than $340 million in 2015; acquiring more than 30 businesses; expanding operations to more than 50 locations; and spearheading the acquisition of the business by a large international partner, Veolia Transportation Inc., in 2006.

Prior to his tenure at SuperShuttle, LaVoy served as CFO of Photocomm Inc., maker of solar electric manufacturing, engineering and distribution, from 1987 to 1997. During his term with this small public company, he oversaw the reorganization and access of working capital from shareholders, taking the company public in 1998, and revenue growth from $5 million to over $25 million in fewer than ten years.

“Tom has a proven track record of growing publicly traded companies. His focus on growth, strong internal teams and strategic planning is what IsoRay needs in a CEO to continue to propel the company into the future,” said Dr. Vitale. “IsoRay is on an upward trajectory because of its innovative and life-saving applications and Tom will provide the leadership to ensure the Company optimizes its growth potential.”