AUSTIN, Texas–(BUSINESS WIRE)–ArthroCare Corp. (Pink Sheets: ARTC.PK) today announced that David Fitzgerald has been appointed President and Chief Executive Officer of the Company. Mr. Fitzgerald has served as ArthroCare’s Acting President and Chief Executive Officer since February and has been a member of the Company’s Board of Directors since 2003.
Peter Wilson, lead independent director of the Board, said, “David Fitzgerald’s strong leadership has been exactly what the Company needed as it works its way through a difficult period with many challenges, and the Board determined that continuity of his leadership is important to ArthroCare’s future success. The Board concluded that David has the personal passion, relevant experience, and respect of the organization that are needed to lead ArthroCare forward, and we are extremely pleased he has agreed to stay on in this executive capacity.”
Mr. Fitzgerald said, “I am delighted to continue leading ArthroCare. My experiences as Acting President and Chief Executive Officer over the last eight months reinforce my confidence in the company and our future prospects. Our Coblation® technology will enable us to capitalize on opportunities in the multi-billion dollar industry in which we operate, and I am confident ArthroCare is positioned for long term success. We will continue to focus on improving patient outcomes by enhancing existing surgical procedures and enabling new, minimally invasive procedures, to re-build value for our shareholders.”