Orthofix CFO leave after five months:
This article was originally published in Clinica
Executive Summary
Timothy Adams has resigned as chief financial officer of orthopaedics company Orthofix International, with effect April 30. The reason for Mr Adam's departure, which comes just five months after he joined the firm, was not disclosed. Mr Adams was previously CEO of women's healthcare company Cytyc for three years. The role at Orthofix will be filled on an interim basis by Tom Hein, who was the Netherlands-based company's CEO for eight years before becoming executive vice-president of finance. In conjunction with the announcement, Orthofix also reaffirmed its revenue guidance of $120-124m for the first quarter of 2008. In February, the company saw its share price plunge around 29% the day after releasing lower-than-anticipated earnings and operating cash flow for the fourth quarter of 2007.
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