Wright Medical Appoints CEO
BY LAUREN UZDIENSKI, SEPTEMBER 19, 2011
Robert Palmisano has been named President and CEO of Wright Medical, effective September 17th. He joins Wright Medical from ev3, an endovascular device company. The press release notes that during his two-year tenure, ev3's market capitalization more than tripled, from approximately $800 million in 2008 to $2.6 billion in July 2010.
David Stevens, who has been acting as CEO since Gary Henley's resignation, will remain Chairman of the Board and return to his role on the Nominating, Compliance and Governance Committee.
The appointment caps a flurry of activity for Wright Medical, which is suspending any prior guidance during Mr. Palmisano's transition. Last week the company announced a restructuring plan designed to reduce costs as well as a one-year extension of their DPA.
