Evofem Biosciences, Inc., the maker of Phexxi® (lactic acid, citric acid and potassium bitartrate) announced the appointment of Ivy Zhang as Chief Financial Officer (CFO) and Secretary, effective April 13, 2023. Reporting to Chief Executive Officer Saundra Pelletier, Ms. Zhang will lead Evofem's finance organization and financial activities including financial planning and analysis, accounting, external audit, tax, controllership, and treasury functions.
"We are delighted to welcome Ivy back to Evofem as our chief financial officer and secretary. In addition to her deep knowledge of the Evofem culture and history, Ivy brings a growth mindset and entrepreneurial savvy that will be instrumental in supporting our ongoing operations as we work toward our goal to be EBITDA breakeven on a quarterly basis by the end of this year," said Ms. Pelletier.
Ms. Zhang is a seasoned finance executive with more than 14 years of financial and accounting experience spanning diverse industries, including pharmaceuticals and medical devices. Following approximately seven years in finance positions at Ernst & Young LLP, and more than two and a half years serving in finance positions at SeaSpine Holdings Corporation (a public medical and therapeutic technology and device company), she joined Evofem in March 2018, first as Director of SEC Reporting and SOX Compliance. Then, from April 2020 to November 2022, she served as Evofem's Controller. She rejoins Evofem from HUYABIO International, where she served as Vice President Controller since November 2022.
"I am thrilled to re-join Evofem at a critical time for restructuring and refocusing the organization. It is encouraging to see the dynamic spirit of innovation and tenacious perseverance, especially as I join the leadership team and tight-knit group of passionate colleagues focused on driving growth of Phexxi for hormone-free contraception," said Ms. Zhang.
Ms. Zhang holds a Master of Accounting in Assurance from Virginia Tech and a Master of Arts in Economics from the University of Victoria, Canada. She is a certified public accountant (CPA) in the state of California.
Ms. Zhang's appointment concludes the tenure of Albert Altro, who briefly served as interim CFO.
Source: Evofem Biosciences
