Accuray Announces New CEO and Transformation Plan Amid Financial Challenges

Accuray, a leading radiotherapy systems manufacturer, has unveiled significant changes in its leadership and strategic direction. The company has appointed Steve La Neve as its new CEO and launched a comprehensive transformation plan aimed at improving competitiveness and driving sustainable growth.

Leadership Transition and Strategic Initiatives

Steve La Neve, a veteran with over 40 years of experience in the medical technology industry, has been named CEO of Accuray, effective immediately. La Neve succeeds Suzanne Winter, who is retiring after six years with the company but will remain in an advisory role through November.

The appointment is part of a broader transformation effort at Accuray. The company has also named Steven Mayer as transformation board sponsor, tasking him with working alongside La Neve and the management team to implement strategic changes. Mayer, who joined Accuray's board in June, brings valuable turnaround experience from his time as executive chairman at Grifols.

Accuray has indicated that most of the organizational, strategic, and operational actions associated with this transformation will be implemented during the current fiscal year, which ends in June 2026. The initiatives are designed to expand margins, enhance competitiveness, and foster sustainable, profitable growth.

Financial Performance and Industry Challenges

Alongside the leadership announcement, Accuray released preliminary financial results for the first quarter of fiscal year 2026. The company reported an adjusted loss before interest, tax, depreciation, and amortization of approximately $4 million, with revenue ranging between $92.5 million and $94 million.

These results come in the context of ongoing challenges in the medical device industry. Accuray has faced headwinds in the U.S. market, where hospitals have been delaying the replacement of capital equipment, leading to slower order demand.

For the previous fiscal year 2025, Accuray reported a narrowed net loss of $1.6 million, an improvement from the $15.5 million loss in the prior year. Revenue for fiscal year 2025 showed a modest 3% year-over-year increase, reaching $458.5 million.