Orthofix shares plunge amid leadership shakeup

Spinal Tech

Orthofix's shares fell 17.1 percent Tuesday morning after the company announced that three C-suite leaders were terminated after an investigation, Market Watch reported Sept. 12.

The company's former CEO , Keith Valentine; CFO, John Bostjancic, and chief legal officer, Patrick Keran, were fired after an independent investigation uncovered "repeated inappropriate and offensive conduct."

Catherine Burzik is now interim CEO, Geoffrey Gillespie is interim CFO and Puja Leekha is interim chief legal officer.

Orthofix also pulled its participation at the upcoming Morgan Stanley Conference, and its investor day has been postponed, according to a news release.

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