Sam Brusco, Associate Editor12.12.23
Orthofix has appointed three new independent directors to its board, following a cooperating agreement made with one of its largest shareholders, Engine Capital. Engine owns about 8.2% of Orthofix’s outstanding shares.
The three new independent directors joining the company’s board are:
This news comes two weeks after Orthofix revealed LimaCorporate CEO Massimo Calafiore will become its new chief executive early next year.
“Orthofix is an outstanding company with a strong foundation of talent, innovation and growth opportunities across the business,” Calafiore said. “I am excited to work with the Orthofix Board, including the newly appointed directors, and the management team to build on the momentum underway and unlock value for shareholders, while providing solutions for patients around the globe.”
“We believe Orthofix is deeply undervalued and are confident the addition of these three new directors, together with Massimo’s recent appointment as CEO, position Orthofix to deliver profitable growth and significant, sustainable shareholder value,” added Engine managing partner Arnaud Ajdler.
Two weeks ago, the company released six-month data for its M6-C artificial cervical disc that compared it with anterior cervical discectomy and fusion (ACDF).
The three new independent directors joining the company’s board are:
- Alan Bazaar, CEO of wealth management firm Hollow Brook Wealth Management.
- Michael Finegan, CEO of Acera Surgical and former Orthofix chief strategy officer
- Charles Kummeth, president and CEO of Bio-Techne.
This news comes two weeks after Orthofix revealed LimaCorporate CEO Massimo Calafiore will become its new chief executive early next year.
“Orthofix is an outstanding company with a strong foundation of talent, innovation and growth opportunities across the business,” Calafiore said. “I am excited to work with the Orthofix Board, including the newly appointed directors, and the management team to build on the momentum underway and unlock value for shareholders, while providing solutions for patients around the globe.”
“We believe Orthofix is deeply undervalued and are confident the addition of these three new directors, together with Massimo’s recent appointment as CEO, position Orthofix to deliver profitable growth and significant, sustainable shareholder value,” added Engine managing partner Arnaud Ajdler.
Two weeks ago, the company released six-month data for its M6-C artificial cervical disc that compared it with anterior cervical discectomy and fusion (ACDF).