Promotes Brad Niemann to President, BioStim Business
Michael Finegan Appointed Chief Strategy Officer, and Jeff Schumm
Appointed Chief Administrative Officer; Mark Atkinson Named Chief People
Officer
LEWISVILLE, Texas--(BUSINESS WIRE)--
Orthofix International N.V., (NASDAQ:OFIX) (the Company) today announced
the realignment of its businesses in order to better focus on
operational performance and enhance the Company's growth potential. The
Company's operational businesses will now include: BioStim (stimulation
products), Spine Fixation (spine implant products), Biologics (biologics
products for all applications), International Extremity Fixation, and
U.S. Extremity Fixation (orthopedic fixation systems).
In connection with the realignment, the Global Spine business will be
separated into two businesses: BioStim and Spine Fixation. Brad Niemann,
currently Orthofix's Senior Vice President, Commercial Operations has
been promoted to President of the BioStim business, effective
immediately. Mr. Niemann has more than 15 years of experience in the
medical device industry, with a particularly strong focus and track
record in expanding the utilization of bone growth stimulation
technology. Brad Mason, President and Chief Executive Officer of
Orthofix, will assume all senior management duties for the Spine
Fixation business on an interim basis. Brian McCollum, currently
President of Global Spine, will be leaving the Company on July 15, 2013.
"These organization changes are part of our overall strategic initiative
to provide more operational focus on our businesses while driving
enhanced shareholder value," said Mr. Mason. "We are committed to
developing innovative solutions for our physician customers and the
patients they serve. By managing all bone growth stimulation products
under the BioStim business, spinal implant products under the Spine
Fixation business, and biologics products under the Biologics business,
we believe we can maximize the growth potential of these businesses. In
addition, the creation of the International Extremity Fixation and the
U.S. Extremity Fixation businesses will allow us to better focus on our
key customers and key product opportunities."
Orthofix today also announced that Mark Atkinson has been named
Orthofix's Chief People Officer, effective immediately. Mr. Atkinson
comes to Orthofix with a strong background in organizational development
and talent management. In this newly created position, Mr. Atkinson will
oversee all human resources management, as well as be responsible for
executive and employee development and creating a corporate culture
conducive to growth and success.
In addition, the Company announced the appointment of Michael Finegan as
Chief Strategy Officer and Jeff Schumm as Chief Administrative Officer.
In these newly formed roles, Mr. Finegan will oversee all strategic
activities, while Mr. Schumm will supervise all regulatory affairs,
legal matters, and government affairs.
Mr. Mason continued, "On behalf of Orthofix, I would like to welcome
both Mark and Brad to the senior management team, congratulate Mike and
Jeff on their expanded roles, and thank Brian for his many contributions
and years of service to our Company and wish him success in his future
endeavors. We are creating a strong leadership team of talented
employees at Orthofix and these promotions and appointments, together
with our organization changes will advance our objectives for the
benefit of our many stakeholders."
The Company will discuss today's announcements, as well as its complete
Business Analysis and Key Strategic Initiatives during its second
quarter 2013 earnings presentation.
About Brad Niemann:
Mr. Niemann joined Orthofix in March 2012 and has led the Company's
reimbursement and commercial operations. With more than 15 years of
experience in the medical device industry, he has a particularly strong
focus and track record in expanding the utilization of bone growth
stimulation technology. From 2004-2012, Mr. Niemann worked in a variety
of management and leadership roles at DJO Global, Inc. including Senior
Vice President, Recovery Sciences leading their commercial efforts for
the business segment.
About Mark Atkinson:
Mr. Atkinson brings to Orthofix a wealth of organizational development
and talent management experience. Most recently, Mr. Atkinson served as
the Director, Talent Management & Organizational Development for Lennox
International. Prior to that, he was a Director, Talent Management,
Organization Design and Human Resource Transformation Practices for
PricewaterhouseCoopers as well as the National Director, Human Resources
for Jenkens & Gilchrist, P.C.
About Michael Finegan:
Mr. Finegan joined Orthofix as Vice President of Corporate Development
in 2006. In 2009, he assumed additional responsibilities as the
President of Biologics. Mr. Finegan came to Orthofix from the Boston
Scientific Corporation, where he held several management positions of
increasing responsibility, including Vice President of Corporate Sales.
Mr. Finegan began his career in banking with First Union (Wachovia). He
graduated from Wake Forest University with a B.A. in Economics.
About Jeff Schumm:
Mr. Schumm joined Orthofix as Assistant General Counsel in January 2007,
and was promoted to Senior Vice President, General Counsel and Corporate
Secretary in October 2010. From 2004 to 2006, Mr. Schumm served as Vice
President and General Counsel for Regeneration Technologies, Inc.
Earlier in his career, he served as an Assistant Attorney General for
the State of Florida, as an associate at Holland & Knight LLP and as a
Staff Attorney at the Supreme Court of Florida. Mr. Schumm received his
Bachelors of Science in Electrical Engineering and Masters in Business
Administration from Lehigh University, and he is a magna cum laude
graduate of the Florida State University College of Law.
About Orthofix:
Orthofix International N.V. is a diversified, global medical device
company focused on developing and delivering innovative repair and
regenerative solutions to the spine and orthopedic markets. Orthofix's
products are widely distributed around the world to surgeons and
patients via Orthofix's sales representatives and its subsidiaries, 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,
and Texas Scottish Rite Hospital for Children. For more information
about Orthofix, please visit www.orthofix.com.
Orthofix International N.V.
Mark Quick, 214-937-2924
Director
of Investor Relations and Business Development
markquick@orthofix.com
Source: Orthofix International N.V.
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