Integra LifeSciences Announces CEO Succession Plan

Rhea-AI Summary

Peter Arduini will serve as President and CEO of Integra LifeSciences through the end of 2021 before transitioning to a new role at GE Healthcare. The company acknowledges his 11 years of impactful leadership, during which it achieved significant growth and established itself in neurosurgery. A search for a qualified successor has commenced, with expectations to conclude by year-end. Arduini will ensure a seamless transition, maintaining the company's momentum. Integra is well-positioned strategically and financially for ongoing growth.

Positive

• Strong executive leadership team in place.
• Company is well-positioned strategically, operationally, and financially.
• Clear path to sustained shareholder value creation.

Negative

• Change in leadership may disrupt current momentum.

Peter Arduini to serve as President and CEO through the end of 2021 Candidate search launched to identify successor

PRINCETON, N.J., June 24, 2021 (GLOBE NEWSWIRE) -- Integra LifeSciences Holdings Corporation (NASDAQ: IART), a leading global medical technology company, today announced that Peter Arduini will step down as Chief Executive Officer at the end of 2021 to accept the role of President and Chief Executive Officer of GE Healthcare.

“On behalf of our entire organization, I want to thank Pete for his inspirational leadership and dedication over the past eleven years. Pete has been instrumental in transforming and shaping Integra into the company it is today - a mission-driven organization positively impacting the lives of millions of patients annually,” said Stuart Essig, Chairman of Integra’s Board of Directors.        

“Today, Integra is a large and focused company with a strong executive leadership team, highly differentiated products, industry-leading margins, a compelling growth trajectory, and a clear path to sustained shareholder value creation. Pete’s tenure has been exciting and rewarding, and his personal decision comes at a time when Integra is experiencing great momentum and is extremely well-positioned strategically, operationally, and financially. On behalf of the Board, leadership team, and our 3,700 employees globally, we wish Pete all the best in his next endeavor. We are committed to identifying a highly-qualified successor exemplifying our company values who will lead Integra in its next phase of expansion and profitable growth,” concluded Essig.

The Board of Directors has initiated a formal search for a new President and Chief Executive Officer and has appointed a special committee to direct the search and transition process, with the assistance of a leading executive search firm, Heidrick & Struggles, Inc. The process, which the Board expects to conclude this year, will include internal and external candidates. Arduini will remain President and CEO through December 31, 2021 or until a new President and CEO has been named and will ensure that a smooth and seamless transition of responsibilities takes place.

“It has been a privilege and honor to serve as Integra’s President and CEO since 2012 and to work alongside this talented and passionate team. Together, we have accomplished much, including global leadership in neurosurgery with some of the most recognized brands in plastic and reconstructive surgery, and an innovative pipeline to accelerate future growth,” said Peter Arduini, Integra's President and Chief Executive Officer. “I want to personally thank Stuart and the Board for their invaluable guidance and unwavering partnership over the years, as well as our colleagues, customers, and shareholders for their trust and support. The future is bright for Integra, and I look forward to the many successes this organization will achieve in the years to come.”

About Integra LifeSciences
Integra LifeSciences is a global leader in regenerative tissue technologies and neurosurgical solutions dedicated to limiting uncertainty for clinicians, so they can focus on providing the best patient care. Integra offers a comprehensive portfolio of high quality, leadership brands that include AmnioExcel®, Bactiseal®, CerebroFlo®, CereLink® Certas® Plus, Codman®, CUSA®, Cytal®, DuraGen®, DuraSeal®, Gentrix®, ICP Express®, Integra®, MatriStem® UBM, MAYFIELD®, MediHoney®, MicroFrance®, MicroMatrix®, PriMatrix®, SurgiMend®, TCC-EZ® and VersaTru®. For the latest news and information about Integra and its products, please visit www.integralife.com.

Investor Relations:
Michael Beaulieu
(609) 529-4812
michael.beaulieu@integralife.com  

Media Contact:
Laurene Isip
(609) 208-8121
laurene.isip@integralife.com

FAQ

Who will be the new CEO of Integra LifeSciences after Peter Arduini?

Integra LifeSciences has initiated a search for a new CEO, expected to conclude by the end of 2021.

What is the reason for Peter Arduini stepping down as CEO?

Peter Arduini is stepping down to become the President and CEO of GE Healthcare.

What impact will Peter Arduini's departure have on Integra LifeSciences?

While he has led the company through significant growth, his departure could disrupt the current momentum.

When will Peter Arduini officially step down as CEO of Integra LifeSciences?

Peter Arduini will remain as CEO until December 31, 2021, or until a new CEO is appointed.