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Tornier Appoints New Chief Financial Officer

Stocks in this article: TRNX

Tornier, N.V. (NASDAQ: TRNX), a global medical device company focused on providing surgical solutions to orthopaedic extremity specialists, announced today that it has appointed Shawn T McCormick as Chief Financial Officer, effective as of September 4, 2012.

Mr. McCormick will succeed Carmen L. Diersen, who will depart as Global Chief Financial Officer of Tornier immediately for personal reasons, but will remain as a consultant to Tornier through July 16, 2013. Douglas W. Kohrs, President and Chief Executive Officer of Tornier, will serve as Interim Chief Financial Officer until Mr. McCormick assumes the position on September 4, 2012.

Doug Kohrs, President and Chief Executive Officer, commented, “I am very pleased to welcome Shawn to our Company and confident that his extensive financial expertise and knowledge of the health care industry will enable him to successfully lead our financial operations.”

Mr. McCormick brings to Tornier approximately 20 years of experience in the medical device industry. He most recently served as Chief Operating Officer of Lutonix, Inc., a medical device company acquired by C. R. Bard, Inc. Before that, Mr. McCormick served as Senior Vice President and Chief Financial Officer of ev3 Inc., a global medical device company acquired by Covidien plc. Prior to joining ev3, Mr. McCormick served as Vice President, Corporate Development at Medtronic, Inc. Mr. McCormick joined Medtronic in July 1992 and held various finance and leadership positions during his tenure. Prior to joining Medtronic, Mr. McCormick was employed by the public accounting firm of KPMG Peat Marwick.

Mr. Kohrs continued, "We thank Carmen for her exceptional service, contribution and dedication to the Company and wish her well in her future endeavors.”

Outlook

The Company also confirmed its previously issued financial guidance for the second quarter of fiscal 2012, which is contained in Tornier’s news release issued on May 8, 2012.

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