Ousted Orthofix execs seek arbitration

Spinal Tech

Three former Orthofix executives who were fired in 2023 filed arbitration claims alleging wrongful termination, the medtech company said in its April 29 proxy statement.

Former CEO Keith Valentine, former CFO John Bostjancic and former Chief Legal Officer Patrick Keran were fired in September amid an independent investigation unveiling "repeated inappropriate and offensive conduct."

The three executives filed pending arbitration claims saying they were wrongfully terminated because they were allegedly fired for cause even though their conduct "did not meet the contractually applicable definition of 'Cause.'" They are also seeking severance and damages over "purported defamatory statements," Orthofix's proxy statement said. 

Orthofix said in its proxy statement that it "disagrees with many of the assertions made in the arbitration claims and intends to vigorously defend the asserted claims."

Since September, Orthofix replaced its interim C-suite. Andres Cedron is the new chief legal officer, Julie Andrews is the new CFO, and Massimo Calafiore is the new president and CEO.

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