New Exactech CEO Takes Over Role From Founder

David Petty has been promoted to the position of CEO at Exactech Inc., and his father, company founder and former CEO William Petty, M.D., will become executive chairman.

David Petty was named president and joined the board in December 2007. He previously served as executive vice president of sales and marketing from February 2000 until December 2007 and has served as a member of the leadership team and the strategy-finance committee. Since joining the company in 1988, he has been employed in successive capacities in the areas of operations, sales and marketing. He served as vice president of operations from April 1991 until April 1993 and vice president of marketing from 1993 until 2000. He was a director of the company from March 1989 until March 1996; from January 2002 until May 2003; and again from 2008 to the present.

William Petty, M.D., has been chairman and CEO of the company since its inception in 1985 and president from January 2002 until December 2007.

Gainesville, Fla.-based Exactech makes orthopedic implant devices, related surgical instruments and biologic materials. The company sold its first product, a cemented hip, in 1987.