Orthofix Names Stephanie Walsh Chief Human Resources Officer

Rhea-AI Summary

Orthofix Medical Inc. (NASDAQ:OFIX), a global spine and orthopedics company, has appointed Stephanie Walsh as Chief Human Resources Officer. Walsh joins from ResMed Inc., where she was Vice President of Transformation and held various HR leadership roles. Her experience includes positions at Illumina, Sempra Energy, and Invitrogen (now Thermo Fisher Scientific).

Walsh brings expertise in talent management, diversity efforts, and organizational design. As an inducement to join Orthofix, she was granted time-based vesting restricted stock units for 16,603 shares and stock options to purchase 38,231 shares. The restricted stock units vest over three years, while the stock options vest based on service criteria.

Positive

• Appointment of experienced HR executive Stephanie Walsh as Chief Human Resources Officer
• Walsh brings expertise in talent management, diversity efforts, and organizational design
• Equity incentives granted to Walsh align her interests with shareholders

Negative

• None.

LEWISVILLE, Texas--(BUSINESS WIRE)-- Orthofix Medical Inc. (NASDAQ:OFIX), a leading global spine and orthopedics company, today announced the appointment of Stephanie Walsh as Chief Human Resources Officer.

Stephanie Walsh, Chief Human Resources Officer, Orthofix (Photo: Business Wire)

A seasoned human resources executive, Walsh joins Orthofix from ResMed Inc., a San Diego-based medical device company, where she served most recently as Vice President of Transformation. During her tenure at ResMed, she also held multiple HR leadership positions including Vice President, People - SaaS, where she led the HR team and people strategy for ResMed’s SaaS Business Unit with more than 2,500 global employees. Earlier in her career, Walsh held multiple HR leadership positions at Illumina, Inc., Sempra Energy and Invitrogen (now Thermo Fisher Scientific), serving in talent management, recruiting and international assignments.

“I am excited to welcome Stephanie to the company,” said Orthofix Chief People and Business Operations Officer Lucas Vitale. “Stephanie brings a depth of leadership experience across the HR function including talent management strategies, diversity efforts, and organizational design that will help further drive talent as a key differentiator for Orthofix.”

“I am thrilled to join Orthofix to lead the HR function at such a transformational point for the company,” said Walsh. “I look forward to working with the Orthofix leadership team to optimize people and organizational capabilities that help strengthen the company and support future growth.”

Walsh has a Bachelor of Arts in Psychology from Indiana University.

As an inducement to enter into employment with Orthofix, Walsh was granted (i) time-based vesting restricted stock units that settle into 16,603 shares of common stock, and (ii) stock options to purchase 38,231 shares of common stock. The time-based vesting restricted stock units vest in equal tranches over three years. The stock options vest upon achievement of service-based criteria. 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 more than 60 countries worldwide.

The Company is headquartered in Lewisville, Texas, where it conducts general business, product development, medical education and manufacturing, 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, Maidenhead, UK, Munich, Germany, Paris, France and São 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, 2023, which was filed with the Securities and Exchange Commission (SEC) on March 5, 2024. The Company’s public filings with the SEC 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/20240716004057/en/

Media Relations

Denise Landry

DeniseLandry@Orthofix.com

214.937.2529

Investor Relations

Julie Dewey

JulieDewey@Orthofix.com

209.613.6945

Source: Orthofix Medical Inc.

FAQ

Who is the new Chief Human Resources Officer at Orthofix (OFIX)?

Stephanie Walsh has been appointed as the new Chief Human Resources Officer at Orthofix (NASDAQ:OFIX).

What was Stephanie Walsh's previous position before joining Orthofix (OFIX)?

Before joining Orthofix, Stephanie Walsh served as Vice President of Transformation at ResMed Inc., a medical device company based in San Diego.

What equity incentives were granted to Stephanie Walsh upon joining Orthofix (OFIX)?

Stephanie Walsh was granted time-based vesting restricted stock units for 16,603 shares and stock options to purchase 38,231 shares of Orthofix (OFIX) common stock.

How do the restricted stock units granted to Stephanie Walsh by Orthofix (OFIX) vest?

The time-based vesting restricted stock units granted to Stephanie Walsh by Orthofix (OFIX) vest in equal tranches over three years.