Exactech co-founders retire, current CEO to transition to board role — 4 insights

Spinal Tech

Joint replacement surgery device company Exactech underwent a number of leadership changes to start the new year.

What you should know:

1. Exactech's current CEO, David Petty, became vice chairman of the company's board of directors with Darin Johnson, senior vice president of extremities, succeeding him.

2. Mr. Johnson joined the company in 2002 in the marketing department. He became senior vice president of extremities in 2018.

3. Mr. Petty was Exactech's first official employee. He grew the company's sales from $235 million in 2013 to more than $325 million. He also expanded the company's employee base to more than 900 globally.

4. Exactech co-founders Bill Petty, MD, and Betty Petty will both retire from the company. Dr. Petty was co-executive chairman and Mrs. Petty was vice president of administration and corporate secretary.

Dr. Petty said: "After 35 years at Exactech, Betty and I will retire. The time has come for us to focus on other things. We are proud of what we have all built together and believe Exactech has a strong foundation in place to sustain its business."

More articles on practice management:
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Orthopedics unit restructures workforce to boost efficiency — 5 details
Optim Orthopedics performs four free joint replacements 


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