Safeguard Scientifics, the Wayne, Pa.-based investment company that focuses on growth-stage healthcare and tech companies, has promoted Jeffrey McGroarty to Senior VP and CFO. McGroarty joined the company in 2005 as a vice president and corporate controller. He succeeds Stephen Zarrilli, who was named president and CEO of Safeguard last November.
Safeguard Scientifics, Inc. (NYSE:SFE), a holding company that builds value in growth-stage healthcare and technology companies, announced that Jeffrey B. McGroarty, 43, an accounting and financial executive who joined the Company in 2005 as Vice President and Corporate Controller, was named Senior Vice President and Chief Financial Officer, effective today. Mr. McGroarty succeeds Stephen T. Zarrilli, 51, who was named President and Chief Executive Officer of Safeguard on November 1, 2012.
“Jeff is a strong, capable executive who has worked closely with me to improve Safeguard’s financial strength and flexibility, positioning the Company to maximize value,” said Mr. Zarrilli.
During his tenure at Safeguard, Mr. McGroarty has managed the Company’s accounting, financial operations, SEC reporting, treasury and tax functions, and also has delivered value-added guidance and service in these same areas to Safeguard’s partner companies.
“I’m energized by this opportunity to further sharpen Safeguard’s focus on its core business, increase capital under management and continue to build high-potential, growth-stage companies in the healthcare and technology sectors as we work towards more consistent monetizations,” said Mr. McGroarty.
Prior to joining Safeguard in December 2005, Mr. McGroarty was interim Controller at Cephalon, Inc. (NASDAQ: CEPH), an international biopharmaceutical company. Before that, he was Vice President, Financial Planning and Analysis at Exide Technologies (NASDAQ:XIDE), a global manufacturer and recycler of lead-acid batteries. While at Exide, Mr. McGroarty had a major role in the company’s reorganization and emergence from bankruptcy. He began his career at PricewaterhouseCoopers LLP, where he was responsible for domestic and international audits, due diligence, consulting and post-transaction integration of mergers and acquisitions for clients in the U.S. and United Kingdom.
Mr. McGroarty earned a B.A. degree in accounting from Pennsylvania State University and has M.B.A. degree from The Wharton School of the University of Pennsylvania.
About Safeguard Scientifics
Founded in 1953 and based in Wayne, Pa., Safeguard Scientifics, Inc. (NYSE:SFE) provides growth capital and operational support to entrepreneurial and innovative healthcare and technology companies in medtech, healthtech, specialty pharmaceuticals, financial technology, digital media, and Enterprise 3.0. For more information, please visit our website at www.safeguard.com.