Cepheid's chief financial officer steps down, is replaced

Cepheid said last week that Ilan Daskal, executive vice president and chief financial officer, is leaving the company.

Daskal's departure is not related to financial disclosures, accounting or legal matters, the company said.

"Ilan has been a substantial help in the post-implementation phase of our ERP project, and we appreciate the short time he has spent at Cepheid and wish him well in his next endeavor," Cepheid CEO John Bishop said.

The company also said Dan Madden has been appointed the new executive vice president and chief financial officer. Madden will now assume responsibility for worldwide finance operations, information technology and investor relations.

"As Ilan moves on, I'm very pleased to announce Dan's promotion to CFO,” Bishop said. “Dan has an exemplary track record here at Cepheid, and his broad and proven leadership experience in accounting, investor relations, and financial planning and analysis will continue to support our fast-moving, high-growth environment."

Madden has served as Cepheid's vice president and corporate controller since June 2014 and, from February through April 2015, served as Cepheid's acting chief financial officer.
Prior to joining Cepheid, Madden served in several capacities at Symmetricom and Sonic Solutions.