PLAINSBORO, N.J., April 29, 2014 (GLOBE NEWSWIRE) -- Integra LifeSciences Holdings Corporation (Nasdaq:IART) today announced that effective May 2, 2014 it has appointed Glenn G. Coleman Corporate Vice President and Chief Financial Officer, reporting to Jack Henneman, who was appointed Corporate Vice President and Chief Administrative Officer.
"I am delighted that Glenn has joined Integra as my successor in the role of chief financial officer," said Jack Henneman. "Glenn's broad experiences in complex and highly-regulated industries make him ideally suited to prepare Integra's finance function to support a much larger and more global business in the years to come."
Mr. Coleman, 46, has 25 years in financial management positions with leading global businesses. He is currently the Vice President, Finance and Corporate Controller of Curtiss-Wright Corporation, a $2.5 billion global company headquartered in Charlotte, North Carolina that delivers highly-engineered, critical function products and services to the commercial, industrial, defense and energy markets. Prior to joining Curtiss-Wright in 2008, Mr. Coleman worked at Alcatel-Lucent for more than 10 years in various finance executive leadership positions, including Vice President for the Wireless and Wireline Business Groups, Controller for the Americas region, Vice President of Internal Audit and Finance Director of External and Internal Reporting. Mr. Coleman was also instrumental in several significant corporate strategic projects at Alcatel-Lucent, including a multi-billion dollar restructuring program, the spin-off of an $8 billion publicly traded entity, and numerous acquisitions. Mr. Coleman began his career at PricewaterhouseCoopers LLP where he was the lead Senior Manager for a top global account. Mr. Coleman has a B.S. degree from Montclair State University and has been a CPA in New Jersey for more than 20 years.
"I am excited to join Integra at such an important time in its growth, and look forward to partnering with the executive leadership to execute on its strategy," said Glenn Coleman. "We have an opportunity to add significant value by optimizing systems and operations, bringing the business to scale, expanding operating margins and increasing cash flow."
The Company also announced that Mr. Henneman plans to retire during 2015, so that he can spend more time with his family in Austin, Texas. Until then, Mr. Henneman will continue to be responsible for the Company's financial, legal, information systems, and business development functions, along with its private label business. Over the next year, Mr. Henneman will focus on ensuring a smooth transition in the finance function and working on strategic acquisitions and other transactions.
"Jack's career at Integra has spanned more than 15 years, a period during which the Company has increased its revenues almost 60-fold," said Peter Arduini, Integra's President and CEO. "He has been a great partner for me over the past three years and helped ensure a smooth leadership transition. Jack will be missed, but we look forward to his contributions until he retires. I also want to welcome Glenn to Integra. Glenn's diversified financial leadership experience with major multinational companies will be a strong asset for Integra as we plan for future growth."
Mr. Henneman joined Integra in 1998 as General Counsel and Chief Administrative Officer, when Integra had approximately $15 million in annual revenues and 150 employees. Mr. Henneman was appointed Acting Chief Financial Officer in 2007 and assumed the role permanently in 2008. In his almost seven years as CFO, he transformed the finance function to accommodate Integra's growth, recruited and developed key leaders in accounting, tax, financial planning and analysis, and treasury, and raised almost $1 billion in new capital from banks and in the debt and equity capital markets. During the last 16 years, he has been responsible at various times for the Company's regulatory affairs, quality systems, clinical affairs, human resources, and the management of the Company's surgical instruments business, in addition to the responsibilities he retains today. He has led the business development function since 1998, and played a key role in the more than 40 acquisitions and alliances the company has completed during his tenure.
"Jack has made significant contributions to Integra," commented Stuart Essig, Integra's Chairman of the Board of Directors. "He has been a critical architect of the Company's acquisition strategy and the decisions to establish our franchises in neurosurgery, extremities, instruments and spine. We look forward to Jack devoting more time to supporting our acquisition strategy."
Integra LifeSciences, a world leader in medical technology, is dedicated to limiting uncertainty for surgeons, so they can concentrate on providing the best patient care. Integra offers innovative solutions in orthopedic extremity surgery, neurosurgery, spine surgery, and reconstructive and general surgery. For more information, please visit www.integralife.com
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from predicted or expected results. In addition, the economic, competitive, governmental, technological and other factors identified under the heading "Risk Factors" included in Item IA of Integra's Annual Report on Form 10-K for the year ended December 31, 2013 and information contained in subsequent filings with the Securities and Exchange Commission could affect actual results.