Updated: Accuray CEO steps down after 10 years

Accuray CEO Euan Thomson is stepping down after 10 years with the company--courtesy of Accuray

After 10 years with devicemaker Accuray ($ARAY), CEO Euan Thomson is stepping down from the post, and the company has selected former Mentor chief Joshua Levine to replace him.

During Thomson's tenure, Accuray developed and commercialized its flagship CyberKnife laser cancer surgery device, and the company delved into the radiation therapy with its $277 million acquisition of TomoTherapy last year. Thompson took the company public back in 2007, pulling in an IPO worth about $288 million.

Thomson said in a statement that he's proud of Accuray's progress under his stewardship, but "a change in leadership is healthy for the organization. It's time for change, for both the company and me."

Thomson is responsible for Accuray's rise in the world of oncological devices, Chairman Louis Lavigne said in a statement, and the company is grateful for his service. "Euan was instrumental in growing Accuray's installed base from approximately 5 to more than 642 systems and growing the company from approximately 75 to over 1,100 employees," Lavigne said.

Levine, his replacement, was CEO of aesthetic devicemaker Mentor until it was sold to Johnson & Johnson ($JNJ) in 2009 and most recently served as chief exec of Immucor, which was acquired by TPG last year.

- read Accuray's announcement

Correction: An earlier version of this story misstated the amount Accuray raised in its 2007 IPO. We regret the error.