Zimmer (NYSE:ZMH) and Biomet appointed executives from both companies to manage their integration after their pending, $13 billion merger goes through.
The integration management office, created to help the integration steering committee, will be led by Zimmer’s chief accounting officer, Derek Davis, and Biomet’s Peggy Taylor, senior vice president for human resources, the companies said.
"Derek and Peggy are proven leaders with vast experience managing projects across their respective organizations. They will be integral in identifying best practices for the future combined company, while also ensuring that we seamlessly serve our respective customers and focus on our business objectives," according to a regulatory filing.
The companies also named a pair of project managers to oversee the day-to-day details of the integration process: Yan (Walter) Wang, manager of the Zimmer Leadership Program and Shon Steger, Biomet’s business development director, according to the filing.
The IMO team also includes Zimmer’s finance vice president, Tony Collins; Biomet’s investor relations VP, Pat Richardson; Monica Kendrick, Zimmer’s corporate communications director; Bill Kolter, Biomet’s marketing & public affairs VP; Kim Martin, vice president of human resources at Zimmer; and Biomet corporate human resources director Bob Abel.
"These IMO members have proven expertise in several key disciplines and possess vast general knowledge of their respective businesses. Importantly, we believe they will ensure that culture and change planning are effectively incorporated into teams’ integration planning activities," according to the filing. "While there is much work to be done, the combination remains on track to close in the first calendar quarter of 2015. As we move through the integration planning process, we will continue to communicate updates, processes and important decisions."
Last month the European Commission tabled its review of the merger, saying Zimmer’s submission for the June 3 review was insufficient and scrapping its July 9 decision deadline.