Sam Brusco, Associate Editor11.16.23
Bioretec, a maker of biodegradable orthopedic trauma implants, began a new CEO recruitment process because current CEO Timo Lohtonen plans to transition to a new role in the company.
The company said its board and Lehtonen reached “mutual consensus in good understanding” to begin the search for a new leader to steer it into upcoming growth stages. He will remain CEO with the board’s support until a successor is named.
During Lehtonen’s reign, Bioretec gained U.S. Food and Drug Administration (FDA) authorization for its RemeOs magnesium-based screws, the first of their kind. The company also posted double-digit percentage revenue growth under his purview.
"It has been an honor to lead Bioretec since 2019, overseeing the company's dynamic growth with unwavering commitment,” Lehtonen told the press. “I deem that this is an appropriate juncture for a new leader to continue to implement the company's vision. My deepest appreciation goes out to our executive team, the Board, and our knowledgeable staff, whose collaborative efforts have been integral to our successes in redefining bone fracture treatment and improving patients' quality of life."
Board chairman Tomi Numminen added, "The Board expresses its gratitude to Mr. Timo Lehtonen for his strong leadership and dedication. As we proceed with the selection of a new CEO, our focus remains on securing a leader with profound expertise in driving international business growth in alignment with Bioretec's strategic ambitions."
In September, the company began a deal with Spartan Medical to distribute RemeOs screws in the U.S.
The company said its board and Lehtonen reached “mutual consensus in good understanding” to begin the search for a new leader to steer it into upcoming growth stages. He will remain CEO with the board’s support until a successor is named.
During Lehtonen’s reign, Bioretec gained U.S. Food and Drug Administration (FDA) authorization for its RemeOs magnesium-based screws, the first of their kind. The company also posted double-digit percentage revenue growth under his purview.
"It has been an honor to lead Bioretec since 2019, overseeing the company's dynamic growth with unwavering commitment,” Lehtonen told the press. “I deem that this is an appropriate juncture for a new leader to continue to implement the company's vision. My deepest appreciation goes out to our executive team, the Board, and our knowledgeable staff, whose collaborative efforts have been integral to our successes in redefining bone fracture treatment and improving patients' quality of life."
Board chairman Tomi Numminen added, "The Board expresses its gratitude to Mr. Timo Lehtonen for his strong leadership and dedication. As we proceed with the selection of a new CEO, our focus remains on securing a leader with profound expertise in driving international business growth in alignment with Bioretec's strategic ambitions."
In September, the company began a deal with Spartan Medical to distribute RemeOs screws in the U.S.