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Heggestad steps down from Orthofix

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Nearly 5 months after joining Orthofix International N.V. as the company’s newest chief financial officer, Mark A. Heggestad announced in late September that he would be leaving his position with the company to return to his family in Minnesota due to personal reasons.

Heggestad succeeded David Ziegler as CFO in early May, with more than 20 years’ experience in financial leadership roles in the medical device industry, according to a company press release.

As a result of Heggestad’s resignation, the company’s chief accounting officer, Doug Rice, succeeded Heggestad as interim CFO on Sept. 26.

“I want to emphasize the decision to resign was strictly due to personal circumstances. I have received complete support from the board and the leadership of the company.” Heggestad said in the press release. “The company is moving forward quickly to secure the processes, systems and talent necessary to provide the underlying infrastructure to drive operational excellence. I regret missing the opportunity to help lead that transformation.”

Heggestad will continue in a consulting role for an indefinite period to assist Rice in transition matters and to undertake other projects as needed, according to the press release.

Reference: www.orthofix.com.