A Medical Device Daily

Zimmer Holdings (Warsaw, Indiana) reported that J. Raymond Elliott will resign as chairman of the board and a member of the board, effective tomorrow, following 10 years of service with the company. John McGoldrick, a current board member, will serve as non-executive chairman.

Elliott served as president/CEO and chairman of the company from August 2001 to May 2007 when David Dvorak was promoted to the positions of president/CEO. In November 2006, Elliott announced his plans to retire following the appointment of a successor CEO.

"My time at Zimmer has seen remarkable change," said Elliott. "I had a special opportunity to lead a great company for many years. I have especially enjoyed working with my colleagues whose collective efforts saw Zimmer recognized as a market leader and become a separate publicly held company. I wish all of them continuing success."

Zimmer said that the board believed that the appointment of a non-executive chairman was an appropriate leadership structure for the company at this point in time.

Zimmer specializes in the development of spinal implants, trauma and related orthopedic surgical products.

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