San Diego spine surgery technology company NuVasive announced Thursday that its president and chief operating officer is stepping down amid a corporate reorganization.
The change was announced after the close of stock markets on the East Coast, and the company’s shares were down over 10 percent in after-hours trading.
Jason Hannon is leaving “to pursue other interests” after a 12-year career with the company, while three other executives — Matt Link, Skip Kiil and Steve Rozow– are being promoted to new executive vice president roles.
“With incredible opportunities ahead, we are taking steps to refine the company’s operating structure to tightly align strategy, product development and marketing and integrate our global commercial channels, while scaling global operations to best address the growing needs of our partners and patients,” said Gregory T. Lucier, NuVasive’s chairman and chief executive officer.
The company said that in an unrelated development, its chief financial officer, Quentin Blackford, is leaving to join another company outside of the spine industry.
The announcements came as the company reported second quarter income of $12.7 million, or 22 cents per share, on revenue of $260.6 million, down from $30.2 million, or 57 cents per share, on revenue of $236.2 million in the same quarter last year.
NuVasive employs 2,300 people in more than 40 countries serving surgeons, hospitals and patients.