Pacific Biosciences Appoints Susan Barnes as CFO
Pacific Biosciences, a firm that developed a disruptive technology platform for real-time detection of biological events at single molecule resolution, has appointed Susan Barnes as chief financial officer (CFO).
Barnes has nearly 30 years experience in senior financial management. From 1997 to 2005, she was senior vice president, finance and CFO of Intuitive Surgical. She started at Intuitive Surgical as its first full-time finance person during the company’s early development stages, and retired when it was a public company with a market capitalisation of more than US$3bn and positive cash flow of more than US$50m a year.
From 1994 to 1996, Barnes was managing director of the private equity group at Jefferies & Company. From 1991 to 1994, she was CFO and managing director of
Richard C. Blum and Associates, a merchant banking company with more than US$500m in funds under management. From 1985 to 1991, she served as vice president and CFO of NeXT Computer, a company she helped start with Steve Jobs after serving as controller of the Macintosh division at Apple Computer from 1981-85. Barnes received a BA from Bryn Mawr College and an MBA from the Wharton School, University of Pennsylvania.
The appointment of a CFO at Pacific Biosciences reflects the company’s growth into a commercial enterprise requiring the expansion of its finance department to support worldwide operations.