Zimmer Unveils Post-Merger Leadership Team
By Jof Enriquez,
Follow me on Twitter @jofenriq
Zimmer Holdings Inc. recently announced the leadership team of the new business entity called Zimmer Biomet that is to be formed after its merger with Biomet Inc., a deal which is expected to be completed by the first quarter of 2015.
David Dvorak, currently the president and CEO of Zimmer, will continue in that capacity at the helm of the new company, according to a Zimmer press release. The combined company will be led by 12 senior executives who will oversee three business units, three geographic regions, and six functional areas.
Adam Johnson, currently head of Biomet’s spine, microfixation, and bone healing division, will lead Zimmer Biomet’s spine, microfixation, bone healing, and dental businesses as group president, according to the announcement. David A. Nolan, currently head of Zimmer's advanced solutions, will become group president of Zimmer Biomet’s sports medicine, extremities, trauma, biologics, and surgical businesses. Daniel E. Williamson will be the third group president of the new company, leading its knee, hip, and bone cement businesses. He is presently the head of Biomet's reconstructive division.
The three geographic areas will be led by three new presidents who are currently serving in senior roles at both Zimmer and Biomet.
Stuart G. Kleopfer, currently at Biomet, will become president, Americas region (United States, Canada, and Latin America). Katarzyna Mazur-Hofsaess, M.D., Ph.D., currently at Zimmer, will become president, of the Europe, the Middle East, and Africa region. Sang Yi, currently at Zimmer, will be the president of the Asia Pacific region (China, Japan, India, Australia, New Zealand, Korea, and Southeast Asia). Stephen H.L. Ooi, presently Zimmer president, Asia Pacific, will move on to become an advisor, according to the announcement.
Six functional areas will be headed by new senior vice presidents, all presently in senior executive roles in both companies.
Daniel P. Florin will become chief financial officer (CFO) of the new company. James T. Crines, current CFO of Zimmer, will transition to an advisory role after the merger. Robin T. Barney will lead global operations and logistics. Audrey M. Beckman will lead strategic quality initiatives. William P. Fisher will lead global human resources. Emmanuel O. Nyakako will lead global quality, clinical and regulatory affairs, and Chad F. Phipps will become general counsel and secretary of the new company, according to Zimmer’s new release.
"These announcements mark important milestones that will help advance the effective integration of our two companies upon closing," Dvorak said in the press release. "Zimmer and Biomet each have extraordinary talent across all levels, and we are confident that we have put in place a team and organizational structure to drive the combined company into this new chapter. In addition, becoming Zimmer Biomet brings together two well-respected and recognizable names in the industry that share a commitment to new innovations that enhance patient outcomes and improve quality of life."
Zimmer and Biomet announced their $13.4 billion merger in April, the fifth-biggest medical device industry transaction in the past decade. The new company, Zimmer Biomet, will become the second-largest orthopedic and dental products company behind Johnson & Johnson.
The deal faces anti-trust hurdles on both sides of the Atlantic. United States regulators have yet to approve the high-profile transaction, and the European Union in early October started an investigation into the merger, which regulators say could stifle innovation in the medical device sector and jack up prices, according to a Wall Street Journal report.