Globus Medical Reports CEO Transition

By Julie A. Vetalice

Globus Medical Reports CEO Transition

Globus Medical announced the resignation of President and Chief Executive Officer, Dave Demski, after nearly 20 years with the company, with the last four and a half years as its CEO. The Board of Directors has named Daniel T. Scavilla as the President and Chief Executive Officer, effective immediately.

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 seven 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.”

The company also announced its preliminary 1Q22 sales of ~$230.5 million, +1.4% vs. 1Q21.

Source: Globus Medical