K2M President, CEO Eric Major takes over as board chairman: 4 key notes

Written by Laura Dyrda | October 04, 2017 | Print  | Email

K2M President and CEO Eric Major was elected chairman of the K2M board of directors, effective immediately.

 

Here are five things to know:

 

1. The board's previous chairman, Dan Pelak, is now K2M's independent lead director. He had been board chairman for the past seven years.

 

2. Mr. Major co-founded the company and has been on the board since January 2004. "Eric's leadership experience, industry expertise and vision of excellence in spinal innovation make him the ideal person to lead our board of directors, and I look forward to supporting him in his new role," said Mr. Palek.

 

3. In the second quarter of 2017, K2M reported $65.7 million in revenue, up 10.9 percent year-over-year, and a net loss of $9.1 million. The revenue growth was driven by double-digit growth in the U.S.
http://investors.k2m.com/releasedetail.cfm?ReleaseID=1035441

 

4. The company continues to launch new products and received FDA clearance for the next generation YUKON OCT Spinal System at the end of September. The system is designed to facilitate fusion with posterior fixation in the OCT regions of the spine and help achieve three-dimensional balance.

 

More articles on spine devices:
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16 new spine, orthopedic devices launches & releases

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