Smith & Nephew: Restructuring of orthopedic business will free up resources for BRIC markets (MassDevice)
Joe DeVivo out as Smith & Nephew merges operating divisions (Memphis Business Journal)
DeVivo Out, Smith & Nephew to Restructure (written by Aisling Maki @ Memphis Commercial Appeal)
Joseph “Joe” DeVivo is out as president of Orthopaedic Reconstruction and Trauma for Smith & Nephew Inc., the company told The Daily News Monday.
DeVivo’s dismissal is the result of organizational restructuring. Smith & Nephew will combine its Memphis-based Orthopaedic Reconstruction and Trauma division with its Andover, Mass.-based Endoscopy division to form a new division that will be known as the Advanced Surgical Devices Division.
“What that division does and what we do, there’s a large degree of overlap among customers and patients in the orthopedic space, so this move is designed to get us more focused in the current business market,” said Andrew Burns, Smith & Nephew director of Global Marketing Communications.
The new division will be led by Mike Frazzette, who has been serving as president of the Endoscopy division. The company said no decisions have been made regarding where Frazzette will be based.
Burns said no site closures or job losses are planned in connection with the new division.
DeVivo has served as chairman of the board of the Great Memphis Chamber and co-chair of the Memphis Fast Forward Economic Development Plan (MemphisED) since November. DeVivo was unanimously elected to fill the position after FedEx Corp. senior vice president Tom Schmitt left.
Greater Memphis Chamber president and CEO John Moore on Monday said an executive committee will convene soon to discuss the matter.