Alan Milinazzo to Remain on Board of Directors
LEWISVILLE, Texas--(BUSINESS WIRE)--
Orthofix International N.V. (NASDAQ:OFIX) today announced the
appointment of Robert S. Vaters its current Chief Operating Officer as
its new President and Chief Executive Officer, effective August 1, 2011.
Alan Milinazzo, the Company's current President and Chief Executive
Officer will step down after six years with the Company, but will remain
on the Board of Directors.
"Since joining Orthofix as Chief Financial Officer in 2008, Bob has
delivered measurable business value in our key business drivers, proving
himself a tireless worker and terrific leader through a series of
increasingly challenging and successful assignments. The Board believes
Bob is the right person to lead our Company during this next phase of
our growth and we're excited that he has accepted the position of
President and CEO", stated Jim Gero, Chairman of the Orthofix Board of
Directors. "We're also very thankful to Alan for everything he has done
for Orthofix over the past 6 years and delighted that he will remain an
essential advisor to us as a member of the Board."
"I want to thank Jim and the Board for their confidence and look forward
to working with them to deliver value for our employees, shareholders
and business partners. This is an exciting time for Orthofix as we work
together to maximize the potential of this organization. I also look
forward to Alan's assistance during this transition," stated Vaters.
Previous to joining Orthofix as Executive Vice President and Chief
Financial Officer in September 2008, Mr. Vaters served as General
Partner and Cofounder of Med Opportunity Partners, a healthcare private
equity firm, which he co founded after serving as EVP, CFO and Head of
Strategy of Inamed, a leading medical device firm.
Orthofix International N.V. is a global medical device company offering
a broad line of minimally invasive surgical, and non-surgical products
for the spine, orthopedics, and sports medicine market sectors that
address the lifelong bone-and-joint health needs of patients of all ages
helping them achieve a more active and mobile lifestyle. Orthofix's
products are widely distributed around the world to orthopedic surgeons
and patients via Orthofix's sales representatives and its subsidiaries,
including BREG, Inc., and via collaborations with other leading
orthopedic product companies. In addition, Orthofix is collaborating on
R&D activities with leading research and clinical organizations such as
the Musculoskeletal Transplant Foundation, the Orthopedic Research and
Education Foundation, Texas Scottish Rite Hospital for Children, and the
Cleveland Clinical Foundation. For more information about Orthofix,
please visit http://www.orthofix.com/.
Orthofix International N.V.
Brian McCollum, 214-937-2927
Source: Orthofix International N.V.
News Provided by Acquire Media