Local medical device maker NuVasive Inc. on Thursday announced a restructuring of its executive suite, including the pending departures of its president/chief operating officer and chief finance officer. The company, known for disrupting the spinal surgery market, said the changes are intended to drive growth and profitability as it strives to hit its goal of $1 billion in revenues in 2017.
Also on Thursday, NuVasive announced its quarterly earnings; the company said revenue increased 10.3 percent to $260.6 million compared to $236.2 million for the second quarter of 2016.
In its management ranks, NuVasive announced that:
President and COO Jason Hannon is stepping down to pursue other interests. Hannon, who has been with the company for 12 years, will remain at NuVasive in an advisory capacity until the end of the year.
Matt Link, president, U.S. Commercial, is being promoted to the newly created position of executive vice president, Strategy, Technology and Corporate Development. Link is a long-tenured NuVasive executive with more than 15 years of industry experience, including extensive knowledge of the U.S. spine marketplace, as well as surgeon and hospital dynamics. He will lead product and systems development, global marketing, surgeon education, clinical research and corporate development.
Skip Kiil, executive vice president, International, was named executive vice president, Global Commercial. Kiil joined NuVasive in June and has more than 15 years of experience as a global medical technologies and life sciences business leader. He was previously with Alcon, a division of Novartis Corp., where he most recently served as surgical head, Europe, Middle East, Africa and Russia.
Steve Rozow, vice president, Global Operations, becomes executive vice president, Global Process Transformation. Since joining NuVasive in 2015, Rozow has led improvements in supply chain and fulfillment, as well as the successful development of the company's new manufacturing facility in West Carrollton, Ohio. Mr. Rozow is an experienced medical device leader including more than 20 years with Zimmer, where he served in various manufacturing and operational leadership roles.
Quentin Blackford resigned as chief financial officer, effective Aug. 25. The company said the resignation was unrelated to the restructuring. Blackford reportedly is pursuing another opportunity outside the spine industry and has agreed to remain with the company during the transition. The company said Blackford's resignation is not the result of any dispute or disagreement with NuVasive.
Vickie Capps, in her role as an independent member of NuVasive's board of directors and a member of the audit committee, will provide guidance and support to the company's financial organization during the transition period. Capps is a well-respected financial executive, having served as CFO of DJO Global, as well as CFO of several public and private companies. She will assist the company in its search for a successor to Blackford.