Michael Lambert became NuVasive’s new Chief Financial Officer on November 9.
Alex Lukianov, NuVasive’s Chairman and CEO, told analysts on a recent conference call that Lambert’s “track record of guiding the finance and accounting functions at larger companies and generating operating leverage will prove to be invaluable to us as we continue to grow. We are grateful to Kevin, [departing CFO Kevin O’Boyle] for his countless contributions and for his continued effort to insure a seamless transition with Michael.” Lukianov said that Lambert’s starting date would coincide with the annual North American Spine Society meeting in San Francisco the week of November 9, 2009.
The 47-year-old Lambert joins NuVasive at a time when the company just met or exceeded Wall Street revenue expectations for practically all 22 quarters they’ve been a public company.
From October 2007 until May 2009, Lambert was Executive Vice President and Chief Financial Officer at Advanced Medical Optics, a publicly traded company with over $1 billion in revenues until it was acquired by Abbott Laboratories in 2009.
Before that he was Senior Vice President and Chief Financial Office for three years with Quest Software, Inc.
Lambert’s prior work experience includes the following: Executive Vice President, Finance and Chief Financial Officer at Quantum Corporation; Senior Vice President and Chief Financial Officer at NerveWire Inc.; and various positions at Lucent Technologies, International Business Machines (IBM), Marakon Associates and Data General Corporation. Lambert received a B.S. in Business Administration from Stonehill College and an M.B.A. from Harvard Graduate School of Business Administration.
According to an October 19, 2009, SEC filing by NuVasive, Lambert’s initial annual base salary is $450, 000 and he will receive a grant of 20, 000 options upon his start date and 50, 000 restricted stock units representing the company’s stock in January 2010. Beginning in 2010, Lambert will be eligible for a performance bonus of up to 100% of his annual base salary under the Executive Management Bonus Plan.
