Orthofix Medical Inc. (NASDAQ:OFIX), a leading global spine and
orthopedics company, today announced that Julie Andrews has
officially stepped into the role of Chief Financial Officer (CFO).
A seasoned executive, Ms. Andrews previously served as CFO for
Smart Wires Technology, a global transmission grid technology
company focused on enabling the transition to renewable energy.
Prior to this, she was the Senior Vice President, Global Finance
for Wright Medical Group, a global medical device company focused
on extremities and biologics that was acquired by Stryker in 2020.
Ms. Andrews also held roles of increasing responsibility at
Medtronic Inc. from 1998 to 2012, including serving as Vice
President of Finance for the Spine and Biologics division where she
oversaw all FP&A and accounting functions.
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Julie Andrews, Chief Financial Officer,
Orthofix Medical Inc. (Photo: Business Wire)
“I am excited to welcome Julie to the Orthofix team,” said
Massimo Calafiore, President and Chief Executive Officer of
Orthofix. “With more than 25 years of leadership experience
predominately in the medical device sector, I am confident she will
be a great partner to me and the leadership team as we continue to
focus on developing growth opportunities that result in sustainable
shareholder value.”
“I am pleased to be joining Orthofix and would like to thank
Geoffrey Gillespie for leading the team as Interim CFO,” said Julie
Andrews, Chief Financial Officer for Orthofix. “I am excited to
work with the talented finance and leadership teams as we look for
opportunities to improve our performance while accelerating our
business.”
About Julie Andrews
Ms. Andrews joined Smart Wires Technology a global transmission
grid technology company in 2021. From 2012 to 2020, she served as
Senior Vice President, Global Finance and Vice President, Global
FP&A and Chief Accounting Officer at Wright Medical Group where
Ms. Andrews led a 170-person finance team. Prior to this, Ms.
Andrews served at Medtronic Inc. including as Vice President of
Finance for the Spine and Biologics division. Early in her career,
Ms. Andrews served as a Senior Financial Analyst for Thomas &
Betts and as an auditor for Thomas Havey, LLC. Currently she serves
on the board and as chair of the audit committee of RxSight, Inc.
an ophthalmic medical device company. Ms. Andrews received a
Bachelor of Science in Accounting from Indiana University. She also
participated in advanced leader and director development programs
at both Medtronic and Wharton School of Business.
As an inducement to enter into employment with Orthofix, Ms.
Andrews was granted (i) performance-based vesting restricted stock
units that settle 65,934 shares of common stock at target
achievement, (ii) time-based vesting restricted stock units that
settle into 32,967 shares of common stock, and (iii) stock options
to purchase 76,878 shares of common stock. The performance-based
vesting restricted stock units vest at the end of a 3-year
performance period based on the Company’s total stockholder return
relative to an industry peer group index during such period, while
the time-based vesting restricted stock units vest in equal
tranches over three years. The stock options vest upon achievement
of both service- and performance-based criteria, whichever is the
later of (a) the date certain service-based conditions are met
(which will be met over three years) and (b) the date that the
average closing price of the Company’s common stock over a
one-month calendar period has been equal to or great than 150% of
the closing price of the Company’s common stock on the grant date.
The grants, which were approved by Orthofix’s Board of Directors,
were made under standalone inducement award agreements approved
pursuant to NASDAQ Marketplace Rule 5635(c)(4).
About Orthofix
Orthofix is a leading global spine and orthopedics company with
a comprehensive portfolio of biologics, innovative spinal hardware,
bone growth therapies, specialized orthopedic solutions, and a
leading surgical navigation system. Its products are distributed in
approximately 68 countries worldwide.
The Company is headquartered in Lewisville, Texas and has
primary offices in Carlsbad, CA, with a focus on spine and
biologics product innovation and surgeon education, and Verona,
Italy, with an emphasis on product innovation, production, and
medical education for orthopedics. The combined Company’s global
R&D, commercial and manufacturing footprint also includes
facilities and offices in Irvine, CA, Toronto, Canada, Sunnyvale,
CA, Wayne, PA, Olive Branch, MS, Maidenhead, UK, Munich, Germany,
Paris, France and Sao Paulo, Brazil.
Forward-Looking Statements
This news release may include forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended, and Section 27A of the Securities Act of 1933, as
amended. In some cases, you can identify forward-looking statements
by terminology such as “may,” “will,” “should,” “expects,” “plans,”
“anticipates,” “believes,” “estimates,” “projects,” “intends,”
“predicts,” “potential,” “continue” or other comparable
terminology. Orthofix cautions you that statements included in this
news release that are not a description of historical facts are
forward-looking statements that are based on the Company’s current
expectations and assumptions. Each forward-looking statement
contained in this news release is subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied by such statement. Applicable risks
and uncertainties include, among others: the ability of newly
launched products to perform as designed and intended and to meet
the needs of surgeons and patients, including as a result of the
lack of robust clinical validation; and the risks identified under
the heading “Risk Factors” in Orthofix Medical Inc.’s Annual Report
on Form 10-K for the fiscal year ended December 31, 2022, which was
filed with the Securities and Exchange Commission (SEC) on March 6,
2023. The Company’s public filings with the Securities and Exchange
Commission are available at www.sec.gov. You are cautioned not to
place undue reliance on forward-looking statements, which speak
only as of the date when made. Orthofix does not intend to revise
or update any forward-looking statement set forth in this news
release to reflect events or circumstances arising after the date
hereof, except as may be required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240116327144/en/
Media Relations Denise Landry DeniseLandry@orthofix.com
214.937.2529
Investor Relations Louisa Smith, Gilmartin Group
IR@orthofix.com
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