Mr. Demski, who has been with the company for almost 20 years and served as CEO for the last four and a half years, notified the company on April 20 that he was resigning from the board that day and as CEO and president on April 21. Mr. Demski will remain an employee through June 30 to help with the transition, the company said.Globus Medical’s board named Daniel T. Scavilla to succeed Mr. Demski, effective immediately.
- Globus Medical CEO Dave Demski is resigning effective immediately to pursue “other opportunities” but specifics were not provided. “There’s really no better time for me to step out and try something new with my life,” Demski told analysts on a Thursday conference call. “There’s really nothing wrong with the company or with me that’s driving it. It’s the time.”
Globus Medical Founder and Executive Chairman, David C. Paul stated, “Dave has been a great partner to me and a truly integral part of Globus, from its humble beginnings in 2003 to a global, publicly-traded medical device company with annual revenue approaching $1 billion. I want to personally thank him for his countless contributions over the years and wish him well as he pursues other opportunities. Dave will remain with the Company to assist with the transition through June 30, 2022.”
“It has been a privilege to be part of the executive leadership of Globus Medical since its inception, working with talented and dedicated team members for almost two decades to improve the lives of patients”, said Dave Demski. “This departure allows me to pursue other opportunities with the confidence that I am leaving Globus in good hands and well positioned for the future.”
“Globus is fortunate to have a strong executive leadership team, and we are pleased to announce that Dan has agreed to lead Globus in executing on our strategy of becoming the pre-eminent musculoskeletal technology company in the world”, said Mr. Paul. “Dan began his career with Globus in 2015 as Chief Financial Officer. In 2019, he was named Executive Vice President, Chief Commercial Officer and in 2020 also became President of Trauma. Dan came to Globus after 28 years with Johnson & Johnson, holding various positions in Finance, including CFO of Vision Care, a multi-billion dollar a year company. Over the past 7 years, Dan has become an integral part of Globus’ executive team, providing steady and committed leadership that will now extend to the entire organization to drive our strategic goals.”
“I’m grateful to the Board of Directors and David Paul for this opportunity. I want to thank Dave for his leadership and support of me over the past 7 years through various roles in Globus”, commented Dan Scavilla, President and CEO. “I look forward to shaping the future of Globus using our cultural values, innovation engine, strong sales force and dedicated employee base worldwide to continue solving unmet clinical needs and supporting our surgeons. These are exciting times for Globus and we are well positioned to continue impacting our markets.”
About Globus Medical, Inc.
Based in Audubon, Pennsylvania, Globus Medical, Inc. was founded in 2003 by an experienced team of professionals with a shared vision to create products that enable surgeons to promote healing in patients with musculoskeletal disorders. Additional information can be accessed at www.globusmedical.com.