Wright Medical Compliance Officer Resigns (written by Walter Eisner @ OTW)
Lisa L. Michels resigned as Vice President and Chief Compliance Officer of Wright Medical Group Inc., on August 16. The resignation was effective immediately.
In an 8-K filing with the Securities Exchange Commission on August 22, the company stated that Ms. Michels is eligible for severance benefits.
The company's board of directors will retain a recruiting firm to conduct a national search for a replacement. John Knighton, the company's Director of Compliance since 2010, was named as interim Chief Compliance Officer. Before joining Wright, Knighton held various compliance roles for pharmaceutical companies.
Fallen Executives
Noting that Ms. Michels was eligible for severance benefits was in contrast to the announcement in April that former CEO Gary Henley's abrupt resignation was without "good reason" and was therefore ineligible for severance. Henley's resignation was followed by the firing of Frank Bono, the company’s chief technology officer and senior vice president for “failing to exhibit appropriate regard for Wright’s ongoing compliance program.”
In May, three more executives left the company....
