(Source: Business Wire)
ArthroCare Corp. (Pink Sheets: ARTC.PK) today announced that David
Fitzgerald has been appointed President and Chief Executive Officer of
the Company. Mr. Fitzgerald has served as ArthroCare's Acting President
and Chief Executive Officer since February and has been a member of the
Company's Board of Directors since 2003.
Peter Wilson, lead independent director of the Board, said, "David
Fitzgerald's strong leadership has been exactly what the Company needed
as it works its way through a difficult period with many challenges, and
the Board determined that continuity of his leadership is important to
ArthroCare's future success. The Board concluded that David has the
personal passion, relevant experience, and respect of the organization
that are needed to lead ArthroCare forward, and we are extremely pleased
he has agreed to stay on in this executive capacity."
Mr. Fitzgerald said, "I am delighted to continue leading ArthroCare. My
experiences as Acting President and Chief Executive Officer over the
last eight months reinforce my confidence in the company and our future
prospects. Our Coblation® technology will enable us to capitalize on
opportunities in the multi-billion dollar industry in which we operate,
and I am confident ArthroCare is positioned for long term success. We
will continue to focus on improving patient outcomes by enhancing
existing surgical procedures and enabling new, minimally invasive
procedures, to re-build value for our shareholders."
Mr. Fitzgerald, age 75, has been a member of the Company's Board of
Directors since 2003. He has served as a member of the Compensation and
Audit Committees of the Board of Directors and will remain as a member
of the Board of Directors. Prior to becoming a member of the Company's
Board of Directors, he spent twenty-five years in executive management
positions at Pfizer, Inc., serving as President and Chief Executive
Officer of its Howmedica Orthopedics division during his last fifteen
years with the company, as well as serving as Senior Vice President of
Pfizer's medical device group. He was also a Vice President of Pfizer
Corporation prior to retiring in 1996. He currently serves on the Board
of Advisors of Sandvik MedTech. He served as Director and Chairman of
the Board of Orthovita from 2001 to 2009 and he served on the Board of
Directors of LifeCell Corporation from 2001 until the company was
acquired by Kinetic Concepts, Inc. in 2008. He holds a B.S. from
American International College and a M.B.A. from New York University.
ABOUT ARTHROCARE
Founded in 1993, ArthroCare Corp.
