Mr. Henley has served as president, CEO and director since 2006. He tendered his resignation prior to a board meeting about the management’s oversight of the company’s ongoing compliance program. The board accepted Mr. Henley’s resignation, which is considered to be without “good reason” under the terms of his employment agreement. He is therefore is not entitled to severance. Other details about his reasons for departure were not included in the news release.
Wright Medical Group’s Board of Directors has appointed Chairman David D. Stevens as interim president and CEO, effective immediately. Mr. Stevens will remain chairman of the board during this time but will only serve as the interim leader until a permanent replacement is found. Wright Medical noted these leadership changes are not related to its operational performance, financial condition or financial reporting.
Read the company news release about Gary Henley’s resignation at Wright Medical Group.
Read other coverage about executive moves in the medical device industry:
– 14 Orthopedic and Spine Device Company Executive Moves
– DJO Global CEO Leslie Cross Joins Alphatec Spine’s Board of Directors
– Steve Bales Named President and CEO of Global Med-Technologies Group
