Navigation Links
Ray Elliott to Retire as Chairman of Zimmer Holdings; John McGoldrick to Serve as Non-Executive Chairman
Date:11/27/2007

WARSAW, Ind., Nov. 27 /PRNewswire-FirstCall/ -- Zimmer Holdings, Inc. (NYSE: ZMH; SWX: ZMH) today announced that J. Raymond Elliott will resign as Chairman of the Board and a member of the Board of Directors effective November 30, 2007, following 10 years of service with the Company. John L. McGoldrick, a current Board member, will serve as Non-Executive Chairman.

Mr. Elliott served as Chairman, President and Chief Executive Officer of the Company from August 2001 to May 2007 when David C. Dvorak was promoted to the positions of President and Chief Executive Officer. In November 2006, Mr. Elliott announced his plans to retire following the appointment of a successor CEO.

"My time at Zimmer has seen remarkable change," said Mr. Elliott. "I had a special opportunity to lead a great company for many years. I have especially enjoyed working with my colleagues whose collective efforts saw Zimmer recognized as a market leader and become a separate publicly held company. I wish all of them continuing success."

The Company said that the Board of Directors believed that the appointment of a non-executive Chairman was an appropriate leadership structure for the Company at this point in time.

Mr. McGoldrick has served as a director of the Company since 2001 and is the Chair of the Corporate Governance Committee. He currently serves as Senior Vice President of the International AIDS Vaccine Initiative. He served as the General Counsel and in other executive capacities with Bristol-Myers Squibb Company for more than 10 years. He retired from Bristol-Myers Squibb as its Executive Vice President in April 2006.

About the Company

Founded in 1927 and headquartered in Warsaw, Indiana, Zimmer is the worldwide #1 pure-play orthopaedic leader in designing, developing, manufacturing and marketing reconstructive and spinal implants, trauma and related orthopaedic surgical products. Zimmer has operations in more than 24 countries around the world and sells products in more than 100 countries. Zimmer's 2006 sales were approximately $3.5 billion. The Company is supported by the efforts of more than 7,000 employees worldwide.

Visit Zimmer on the worldwide web at http://www.zimmer.com

Zimmer Safe Harbor Statement

This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 based on current expectations, estimates, forecasts and projections about the orthopaedics industry, management's beliefs and assumptions made by management. Forward-looking statements may be identified by the use of forward-looking terms such as "may," "will," "expects," "believes," "anticipates," "plans," "estimates," "projects," "assumes," "guides," "targets," "forecasts," and "seeks" or the negative of such terms or other variations on such terms or comparable terminology. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that could cause actual outcomes and results to differ materially. These risks and uncertainties include, but are not limited to, our ability to successfully integrate acquired businesses, the impact of our settlement of the federal investigation into financial relationships with consulting surgeons, including our compliance with the Deferred Prosecution Agreement through March 2009 and the Corporate Integrity Agreement through 2012, the outcome of the Department of Justice Antitrust Division investigation announced in June 2006, the outcome of the informal investigation by the U.S. Securities and Exchange Commission into Foreign Corrupt Practices Act matters announced in October 2007, price and product competition, rapid technological development, demographic changes, dependence on new product development, the mix of our products and services, supply and prices of raw materials and products, customer demand for our products and services, control of costs and expenses, our ability to form and implement alliances, international growth, governmental laws and regulations affecting our U.S. and international businesses, including tax obligations and risks, product liability and intellectual property litigation losses, reimbursement levels from third-party payors, general industry and market conditions and growth rates and general domestic and international economic conditions including interest rate and currency exchange rate fluctuations. For a further list and description of such risks and uncertainties, see our periodic reports filed with the U.S. Securities and Exchange Commission. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be set forth in our periodic reports. Readers of this document are cautioned not to place undue reliance on these forward-looking statements, since, while we believe the assumptions on which the forward-looking statements are based are reasonable, there can be no assurance that these forward-looking statements will prove to be accurate. This cautionary statement is applicable to all forward-looking statements contained in this document.


'/>"/>
SOURCE Zimmer Holdings, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Elliott Extremely Dissatisfied With Genzyme Bid for Bioenvision; Believes Offer Significantly Undervalues Company
2. American Idol Finalist and Hickory Records Artist Elliott Yamin to Serve as a Global Ambassador for Inspired by Diabetes Campaign to Help Children with Diabetes
3. American Idol Star Elliott Yamin and Music Legend Gloria Gaynor To Perform at AnthemLIVE!
4. Dana Corporation, Inc. Enters Into Settlement Agreement With Dana Retiree Committee
5. Retired NYPD Lieutenants William E. Keegan, Jr., Owen McCaffery and John Moran and Tom Thees, a former COO in the financial industry, announce today the formation of H.E.A.R.T (Healing Emergency Aid Response Team) 911.
6. Ken Sperling to Lead CIGNA HealthCare Retiree Solutions Unit
7. Hospital Association President Gary Carter Announces Retirement
8. Perrigo Vice Chair Mori Arkin To Retire After 30 Years of Service
9. Depression Pushes Middle-Aged Workers to Retire
10. BWMC President and CEO Announces Retirement
11. Cardinal Health Names CEO R. Kerry Clark as Chairman; Company Founder Robert D. Walter to Retire After 36 Years
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/29/2016)... ... April 29, 2016 , ... A new study by ... congenital diaphragmatic hernia have better survival rates if surgery is performed early. Approximately ... where the diaphragm fails to form completely, letting abdominal organs into the chest ...
(Date:4/29/2016)... ... April 29, 2016 , ... The ... (CCA), is pleased to announce the launch of the GFCP Scoop ... and more. The purpose of the GFCP Scoop site is to ...
(Date:4/29/2016)... ... 29, 2016 , ... For those who skip meals occasionally (which is pretty ... among the many new lifestyle diet tips offered by nutritionists Pam Bonney and Priya ... Water® radio show. Bonny and Lawrence noted that because proper nutrition, including water, provides ...
(Date:4/29/2016)... Beach, CA (PRWEB) , ... April 29, 2016 , ... ... Jane L. Frederick, Dr. Sanaz Ghazal, and Dr. Daniel A. Potter -- are proud ... Society for Assisted Reproductive Technology (SART). In April, SART published the latest ...
(Date:4/29/2016)... ... April 29, 2016 , ... Coalition Duchenne, a ... and funding for Duchenne research, participated in the April 25 U.S. Food and ... Duchenne drug eteplirsen. The meeting at the Marriott Conference Center in Hyattsville, Maryland ...
Breaking Medicine News(10 mins):
(Date:4/28/2016)... , April 28, 2016 ... consumer insights on healthcare, announced today that it has ... report Cool Vendor in Life Sciences, 2016, ... 15, 2016.  The report focuses on life-science- oriented analytics, ... insight from patients and doctors, confirm medication ingestion, and ...
(Date:4/28/2016)... , April 28, 2016  ValGenesis, Inc., ... Management Solutions (VLMS) today announced that a ... for sufferers of chronic kidney failure has ... manage their corporate validation process. The global ... software solution to manage their validation processes ...
(Date:4/27/2016)... , le 27 Avril 2016 ... a progressé de +5% sur le trimestre, soutenu ... de consommables  Croissance de +16% des ... Mauna Kea Technologies (Euronext : MKEA, FR0010609263 ; ... confocale laser, annonce aujourd,hui son chiffre d,affaires pour ...
Breaking Medicine Technology: