Idexx CEO Takes Medical Leave After Serious Cycling Accident

(Bloomberg) -- Idexx Laboratories Inc. Chief Executive Officer Jonathan Ayers is taking a medical leave of absence following what the company said was a “serious bicycling accident” on June 27.

Idexx's executive vice president Jay Mazelsky will serve as interim CEO, the company said in a statement. Chief Financial Officer Brian McKeon and Larry Kingsley, the independent lead director of Idexx's board, will also provide support.

“Jon has expressed his confidence in Jay, Brian and Idexx's talented leadership team,” Kingsley said.

Ayers, 63, has served as CEO since 2002. In a 2018 interview posted on YouTube, Ayers said he had taken up cycling again at age 54, and had done some amateur racing. In the online interview, he described the sport as a way to provide focus and a break from his intense role as a business leader.

“Cycling is like a refuge. You're just another cyclist,” Ayers said in the interview. “It's a different way of living. I'm not the CEO, I'm just a cyclist.” He said he trains about 10 hours a week.

The Westbrook, Maine-based life-science equipment company declined to provide further comment on the nature of Ayers's injuries or a timeline for his return. The company makes many commonly used tests for veterinary medicine, as well as testing for water and milk. It has a market value of about $24 billion.

Idexx has gained 50% this year to date under Ayers, including a 1.1% gain Monday as U.S. stocks touched all-time highs.

To contact the reporter on this story: Myah Ward in New York at mward174@bloomberg.net

To contact the editors responsible for this story: Drew Armstrong at darmstrong17@bloomberg.net, Timothy Annett

©2019 Bloomberg L.P.