Brad Mason, Orthofix International N.V.’s new president and CEO, is re-booting the way the company is organized.
The company’s operational business will now include:
- BioStim (stimulation products),
- Spine Fixation (spine implant products),
- Biologics (biologics products for all applications),
- International Extremity Fixation, and
- U.S. Extremity Fixation (orthopedic fixation systems).
In a June 20, 2013 announcement, Mason said the organization changes are part of an overall strategic initiative to provide more operational focus on the businesses while driving enhanced shareholder value. “By managing all bone growth stimulation products under the BioStim business, spinal implant products under the Spine Fixation business, and biologics products under the Biologics business, we believe we can maximize the growth potential of these businesses. In addition, the creation of the International Extremity Fixation and the U.S. Extremity Fixation businesses will allow us to better focus on our key customers and key product opportunities.”
Mason promised a reboot after his recent appointment to head the company. On May 8, the company reported a 14% decrease in first quarter revenue over the previous year’s quarter. In his first call with analysts, Mason called the first quarter “disappointing.” He added that the good news was that the primary issues that led to the results were, “identifiable, within our control, and fixable. We are developing a strategy with specific initiatives that will both improve our internal competencies and drive growth.”
McCollum Out, Niemann Promoted
In connection with the realignment, the Global Spine business will is separated into two businesses: BioStim and Spine Fixation. Brad Niemann, the former senior vice president, Commercial Operations was immediately promoted to president of the BioStim business. Niemann has more than 15 years of experience in the medical device industry, with a particularly strong focus and track record in expanding the utilization of bone growth stimulation technology. Mason will assume all senior management duties for the Spine Fixation business on an interim basis. Brian McCollum, currently president of Global Spine, will be leaving the company on July 15, 2013.
Other Appointments
In addition to the reboot announcement, Mark Atkinson was immediately named the company’s Chief People Officer. In this newly created position, Atkinson will oversee all human resources management, as well as be responsible for executive and employee development and “creating a corporate culture conducive to growth and success.”
Mason also announced the appointment of Michael Finegan as Chief Strategy Officer and Jeff Schumm as Chief Administrative Officer. In these newly formed roles, Finegan will oversee all strategic activities, while Schumm will supervise all regulatory affairs, legal matters, and government affairs.
“On behalf of Orthofix, I would like to welcome both Mark and Brad to the senior management team, congratulate Mike and Jeff on their expanded roles, and thank Brian for his many contributions and years of service to our company and wish him success in his future endeavors. We are creating a strong leadership team of talented employees at Orthofix and these promotions and appointments, together with our organization changes will advance our objectives for the benefit of our many stakeholders.”
The company released the following biographies of the new team:
Brad Niemann
Niemann joined Orthofix in March 2012 and has led the company’s reimbursement and commercial operations. With more than 15 years of experience in the medical device industry, he has a particularly strong focus and track record in expanding the utilization of bone growth stimulation technology. From 2004-2012, Niemann worked in a variety of management and leadership roles at DJO Global, Inc. including senior vice president, recovery sciences leading their commercial efforts for the business segment.
Mark Atkinson
Atkinson brings to Orthofix a wealth of organizational development and talent management experience. Most recently, he served as the director, talent management & organizational development for Lennox International. Prior to that, he was a director, talent management, organization design and human resource transformation practices for PricewaterhouseCoopers as well as the national director, human resources for Jenkens & Gilchrist, P.C.
Michael Finegan
Finegan joined Orthofix as vice president of corporate development in 2006. In 2009, he assumed additional responsibilities as the president of biologics. Finegan came to Orthofix from the Boston Scientific Corporation, where he held several management positions of increasing responsibility, including vice president of corporate sales. Finegan began his career in banking with First Union (Wachovia). He graduated from Wake Forest University with a B.A. in Economics.
Jeff Schumm
Schumm joined Orthofix as assistant general counsel in January 2007, and was promoted to senior vice president, general counsel and corporate secretary in October 2010. From 2004 to 2006, Schumm served as vice president and general counsel for Regeneration Technologies, Inc. Earlier in his career, he served as an assistant attorney general for the state of Florida, as an associate at Holland & Knight LLP and as a staff attorney at the Supreme Court of Florida. Schumm received his Bachelors of Science in Electrical Engineering and Masters in Business Administration from Lehigh University, and he is a magna cum laude graduate of the Florida State University College of Law.
