02-27-2007The Biomet Inc. board of directors announced Monday the appointment of Jeffrey R. Binder, 43, as president and chief executive officer and a member of Biomet’s board.
Binder replaces Daniel P. Hann, who has served as interim president and chief executive officer. Hann will remain as executive vice president of administration and a member of the board of directors. The appointment is effective immediately.
As a 15-year veteran of the orthopedic medical device industry, most recently in senior management roles at Abbott Laboratories, Binder’s experience includes general management, marketing and business development roles with some of the world’s most successful orthopedic medical device companies. He has a proven record of helping companies to identify new growth opportunities and the strategies needed to capture this growth.
Niles L. Noblitt, chairman of the board, said, “After an extensive search, we are extremely pleased to have a proven leader with strong experience in leading companies in the orthopedic medical device industry. We are also very appreciative of the excellent leadership and management provided by Dan Hann since he assumed the role of interim president and CEO nearly one year ago.”
“I am very excited about joining Biomet at this critical juncture in its history,” said Binder. “I look forward to working with Biomet’s team members to continue to build on the company’s strengths and to further capitalize on opportunities going forward.”
Hann said, “Jeff brings an impressive depth of operational experience to the CEO position. I am looking forward to working closely with him and the management team to ensure a smooth transition and take Biomet to the next level.”
As executive vice president of administration, Hann will work closely with Binder to ensure a smooth transition across all aspects of the business.
Binder has served as senior vice president of diagnostic operations of Abbott Laboratories since January 2006. He previously served as president of Abbott Spine from June 2003; and president and CEO of Spinal Concepts from 2000 until June 2003, when Spinal Concepts was acquired by Abbott Laboratories.
Prior to his position as president and CEO of Spinal Concepts, Binder was president of DePuy Orthopedics joint reconstruction and trauma business following its integration with Johnson & Johnson in 1998. He also spent four years in various senior positions at Howmedical Orthopedics and five years with the Boston Consulting Group.
He received a bachelor’s degree in applied mathematics from Yale University and a master’s degree in public policy from the Woodrow Wilson School at Princeton University.