Rockley Photonics Announces Senior Leadership Changes

Reaffirms Fiscal Year 2022 Revenue Guidance

OXFORD, England & PASADENA, Calif.--(BUSINESS WIRE)--Rockley Photonics Holdings Limited (NYSE: RKLY), a global leader in photonics-based health monitoring and communications solutions, today announced changes to its senior management team. These changes are intended to align with the Company’s next phase of growth as it prepares to begin production of its biosensing solution following completion of its recent $81.5 million private placement.

“During his tenure, he built a very strong finance team, guided the company through its business combination last year and successfully completed a convertible debt financing in an incredibly difficult market. Mahesh leaves Rockley well-positioned to move to the production phase of our growth.”

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As part of these changes, the Company announced that Mahesh Karanth will resign from his role as chief financial officer to pursue other interests. Chad Becker, vice president of financial planning and analysis, will be promoted to the role of interim chief financial officer effective immediately. Mr. Becker brings 20 years of finance and leadership experience at companies, including Microsoft and NetApp.

The Company also announced that Ciaran Rooney, vice president of strategic relationships, was promoted to senior vice president of corporate development. During his tenure, Mr. Rooney played a key role in the financing of the business through multiple financing rounds including the recent private placement and the Company’s IPO last August, and has led Rockley’s strategic initiatives, including corporate development, strategic partnerships, and key commercial and corporate relationships.

“I want to thank Mahesh for his contribution to Rockley over the past four and a half years,” said Dr. Andrew Rickman, chairman and chief executive officer of Rockley. “During his tenure, he built a very strong finance team, guided the company through its business combination last year and successfully completed a convertible debt financing in an incredibly difficult market. Mahesh leaves Rockley well-positioned to move to the production phase of our growth.”

Dr. Rickman continued, “I also want to thank Chad and Ciaran for their support during this period and am excited about the contributions they will make in their expanded roles. They are both talented professionals, and I believe they will be key to Rockley’s next chapter.”

Rockley will retain an executive search firm and commence a formal search for a permanent chief financial officer. Mr. Karanth’s departure is not related to any financial performance, policy, control issues or any disagreements on accounting or financial reporting matters.

Rockley reaffirmed its fiscal year 2022 revenue guidance that was provided on May 12, 2022.

About Rockley Photonics

A global leader in photonics-based health monitoring and communications solutions, Rockley Photonics is developing a comprehensive range of photonic integrated circuits and associated modules, sensors, and full-stack solutions. From next-generation sensing platforms specifically designed for mobile health monitoring and machine vision to high-speed, high-volume solutions for data communications, Rockley is laying the foundation for a new generation of applications across multiple industries. Rockley believes that photonics will eventually become as pervasive as micro-electronics, and it has developed a platform with the power and flexibility needed to address both mass markets and a wide variety of vertical applications.

Formed in 2013, Rockley is uniquely positioned to support hyper-scale manufacturing and address a multitude of high-volume markets. Rockley has partnered with numerous Tier-1 customers across a diverse range of industries to deliver the complex optical systems required to bring transformational products to market.

To learn more about Rockley, visit rockleyphotonics.com.