Alphatec shuffles the deck
Alphatec (NSDQ:ATEC) said it returned chairman Leslie Cross to the corner office as interim CEO, effective Sept. 16, and made a few other changes in the executive suite.
Cross, who was Alphatec’s CEO from 2012 to 2014, succeeded the resigning James Corbett, Carlsbad, Calif.-based Alphatec said. The company also promoted COO Michael Plunkett to president & COO and named NuVasive Inc. (NSDQ:NUVA) veteran Craig Hunsaker to the newly created post of people & culture EVP.
Another NuVasive vet, Jeff Rydin, was named special advisor to Alphatec’s board, the company said.
“Over the past few years, Alphatec has made significant progress under Jim’s leadership on its strategic journey to reshape the organization, including the successful sale of our international business to Globus Medical. We have strengthened our product development pipeline and as a result our commercial product portfolio has never been stronger. Similarly, we made significant progress on streamlining our cost structure through the outsourcing of manufacturing operations and improvements to our supply chain management processes through our partnership with outside suppliers. With a robust product suite that is attractive to surgeons, an improved balance sheet and a singular focus on the U.S. market, Alphatec is now well-positioned to undertake the next stage of transformation – improving commercial execution and accelerating revenue growth. The leadership changes we are announcing today are designed to fast track this vision to reality. We appreciate Jim’s contributions and wish him the best in his future endeavors,” Cross said in prepared remarks.
“This leadership transition is the next step in connecting surgeons and patients in the U.S. with Alphatec’s new and robust products. As part of this transition, the board, the executive team and I will be focused on the next phase of the company’s transformation – accelerating U.S. revenue growth and superior performance for Alphatec. I am pleased to expand the breadth and experience of the executive team with the expansion of Mike Plunkett’s role and the addition of Craig Hunsaker. In addition, we are fortunate to engage the counsel of Jeff as we transform our U.S. commercial execution and drive future revenue growth. I look forward to all of their contributions and have tremendous confidence in this leadership team and the dedicated employees we have at Alphatec,” he said. Read more
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