Dive Brief:
- Stuart Essig has returned for a second stint as CEO of Integra LifeSciences 14 years after leaving the post, the company said Tuesday.
- Essig, who led Integra from 1997 to 2012, replaced Mojdeh Poul as CEO of the company. On an earnings call, Essig said Poul’s “decision to step down was mutual between her and the board.”
- Integra appointed Michael McBreen as chief commercial officer as part of the changes. Essig said putting McBreen in the newly created role will free the CEO to devote time to other areas that need focus.
Dive Insight:
Essig became executive chairman of Integra when CEO Jan De Witte outlined plans to retire in 2024. The company named Poul as CEO in November 2024. When Poul started in January 2025, Integra was contending with the fallout of a Food and Drug Administration warning letter that led it to pull products from the market. The company is still working to return products to the market.
Under Poul, Integra cut costs by consolidating operations and eliminating positions while working to improve the quality management system across its manufacturing and supply network. Poul and the Integra board had differences on “certain strategic topics,” Essig said, “but the transformation initiatives that we put in place remain the right ones and they're going to continue.”
As CEO, Essig said he will focus on “execution and going on the offense commercially.” Integra added commercial leadership by appointing McBreen, currently president of its Codman Specialty Surgical unit, to the new C-suite role. The appointment reflects Integra’s desire to raise the commercial team’s profile and give it more leadership support, rather than a change in direction, Essig said.
The new strategy does not involve expanding the sales team, Essig said, nor does it imply there will be a reduction in the commercial headcount. Putting one commercial leader over Integra’s businesses will “make sure our divisions are presenting themselves consistently,” Essig said, and drive collaboration between teams.
Essig noted that Integra has divested businesses in the past, but said he is “not expecting any portfolio movements in the near future.” He believes the company can be a top-three player in its neuro, wound care, and ear, nose and throat markets. Integra is also unlikely to acquire businesses in the near term, with Essig seeking to lower the company’s debt before considering M&A.
The company grew sales by 2.4% in the first quarter and reaffirmed its full-year guidance. First-quarter results reflected work to improve supply, which allowed Integra to meet demand more consistently, CFO Lea Daniels Knight said on the earnings call. Integra’s full-year guidance does not assume a meaningful contribution from returning products to the market, the CFO said.
