Orthofix terminates CEO Keith Valentine, Catherine Burzik appointed interim CEO

Orthofix announced that Catherine Burzik, chair of the Orthofix board of directors, has been appointed interim CEO; Geoffrey Gillespie, Orthofix VP, corporate controller, has been appointed interim CFO and Puja Leekha, Orthofix senior VP, chief ethics and compliance officer, has been appointed interim chief legal officer. The appointments are effective immediately and follow the unanimous decision by the board’s independent directors to terminate for cause Keith Valentine, John Bostjancic and Patrick Keran from those respective roles. The board also requested that Valentine resign from the board. The board will immediately begin a search for permanent successors. The board’s decision follows an investigation conducted by independent outside legal counsel and directed and overseen by the company’s independent directors. As a result of the investigation, the board determined that each of these executives engaged in repeated inappropriate and offensive conduct that violated multiple code of conduct requirements and was inconsistent with the company’s values and culture.