Name: Keith Pfeil
New title: Chief operating officer and CFO, Globus Medical
Previous title: CFO, Globus Medical
Globus Medical has named Keith Pfeil as its chief operating officer. Pfeil will continue as CFO, a position he has held since 2019, while overseeing day-to-day operational activities at Globus.
The expanded role gives Pfeil oversight of daily activities to support the “successful attainment of yearly business plans, ensuring strong growth and profit,” the company said in a Monday statement.
David Demski last held the title of COO from 2008 to 2015 before moving to the position of president of emerging technologies and, ultimately, CEO in 2017, which he held for roughly five years.
Globus CEO Dan Scavilla expressed confidence that Pfeil “will help us continue to unlock operational efficiency, deliver the next phase of profitable growth and ensure a successful transition through our ongoing integration following our merger with Nuvasive.”
Globus appointed Pfeil to COO about four months after completing its $3.1 billion acquisition of spine rival Nuvasive. The companies have begun integrating the businesses, which led to Globus laying off more than 150 positions in California
Historically, large spine mergers “have tended to be messy,” a Truist Securities analyst said when the deal was announced one year ago, and there is potential for disruption to enable rivals to win market share.
On a quarterly results conference call last month, an analyst asked Stryker executives “how much you've been able to capitalize on the disruption in the [spine] space.” Stryker CEO Kevin Lobo responded that the company “just started to hear some disruption in Texas ... and a couple other little spots,” adding that “I think we're going to see the disruption starting this year and hopefully, we'll be able to pick up on that.”
