Orthofix Medical's stock was suffering its worst day in 15 years on Tuesday after the spine and orthopedics company fired three top executives 'for cause.'
Shares of Orthofix Medical Inc. were suffering their worst day in 15 years on Tuesday, after the spine and orthopedics company fired three top executives “for cause.”
The stock plummeted 26.8% in afternoon trading, putting it on track to close at the lowest price since March 11, 2009. The stock was also headed for the biggest one-day percentage drop since it fell 29.0% on Feb. 22, 2008. Chairperson of the Board Catherine Burzik was appointed interim CEO, Corporate Controller Geoffrey Gillespie was named interim CFO and Chief Ethics and Compliance Officer Puja Leekha was named interim CLO, while the company searches for permanent successors to those roles.
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