Globus Medical (NYSE:GMED) CEO Daniel Scavilla has resigned to take over the corner office at Dentsply Sirona (Nasdaq: XRAY) , the companies announced today.
Scavilla’s tenure at Globus spans more than a decade, as he originally joined the company as SVP and CFO in 2015. He became CCO in 2020 before taking over the corner office in 2022. The company appointed Keith Pfeil, its EVP, COO and CFO, as president and CEO.
“On behalf of the board and all the employees of Globus, I want to thank Dan for his leadership and commitment to Globus over the past 10 years,” said David C. Paul, Globus Medical founder and executive chair. “Dan has helped us with our vision of transitioning Globus from an implant and instrument provider to a musculoskeletal technology and solutions provider. We are grateful for his contributions and wish him continued success in his next chapter.”
Prior to Globus Medical, Scavilla spent 28 years across a variety of financial and operational leadership roles at Johnson & Johnson. He also joined the Dentsply Sirona board in February 2025.
He succeeds CEO Simon Campion, who is leaving Dentsply — and departing his post on the board — on July 31. Gregory T. Lucier, Dentsply’s board chair, said the company is confident that Scavilla’s experience in healthcare has him “well-suited to lead the company into its next chapter.”
“Dentsply Sirona is a company that I have admired for its trusted brands, and since joining the board in February, I have gained an even deeper appreciation for the enormous potential of our business, people and products,” Scavilla said. “The board and I are aligned in our belief that, while our ongoing transformation is yielding results, there is more we can do to drive improved commercial, operational and financial performance across the organization. As I step into the CEO role, I look forward to working with the team to continue the company’s transformation and drive sustained profitable growth and enhance value for all stakeholders.”
Globus selects new CEO from within
Pfeil’s appointment went into effect on July 18, following the resignation of Scavilla. Additionally, the orthopedics and surgical robotics company named Kyle Kline, SVP of finance, as its new SVP and CFO.
“We are excited to appoint Keith Pfeil as our next president and CEO. Keith brings a sharp strategic mindset and a results-oriented leadership style with a clear understanding of how to drive performance across an organization,” said Paul. “His manner and approach demonstrate strong cultural alignment with the Globus philosophy, and we look forward to him leading us as Globus continues to execute its strategy of becoming the pre-eminent musculoskeletal technology company in the world.”
Pfeil began his career with Globus in 2019 as SVP and CFO. In 2024, he became EVP, COO and CFO. Paul labeled Pfeil “ideally positioned” to expand his influence across the organization as its CEO.
“I’m deeply grateful to David and the board for this opportunity and want to thank Dan for his mentorship and partnership throughout my journey thus far at Globus,” said Pfeil. “I’ve had the opportunity to grow with this team over the past six years, and I am excited to carry forward our strong culture of purpose, innovation and teamwork that will meaningfully impact the lives of patients as we move ahead.”
Scavilla also departed with optimism around leaving Globus in the hands of Pfeil.
“It has been an honor to lead Globus Medical and be part of this exceptional team,” said Scavilla. “As the company continues to move forward, I have made the decision to step down to pursue another opportunity. I look forward to watching the company’s continued success as Keith leads Globus into its next chapter and know that he will drive meaningful impact to the company as it moves ahead. I’m proud to have been part of Globus.”
Globus Medical reports preliminary second-quarter results — and analysts’ aren’t surprised
In addition to the leadership change, Globus announced preliminary sales results for the second quarter ending June 30, 2025. The company expects sales to total $745.3 million, marking an as-reported 18.4% year-over-year increase.
That preliminary total comes in ahead of Wall Street expectations for $738.9 million in revenue. Globus also reaffirmed its 2025 guidance for a range of between $2.8 billion and $2.9 billion in sales. It anticipates adjusted EPS to range between $3 and $3.30.
“Our second quarter results demonstrated a significant improvement over Q1, led by our U.S. Spine business, which grew approximately 7.4% on a day-adjusted basis compared to the prior year quarter, as well as notable sequential improvement in Enabling Technology sales,” said Pfeil. “Our U.S. Spine business had strong, consistent momentum throughout Q2, delivering its highest quarterly revenue result since the 2023 merger with NuVasive. Looking ahead, we seek to continue this trend, while continuing to convert our Enabling Technologies pipeline.”
BTIG analysts Ryan Zimmerman and Iseult McMahon say that, while the management change was unexpected, the preliminary results were not. They downgraded Globus after the first quarter due to fears of “foundational cracks” in the business.
“We downgraded GMED following 1Q25 results as we believed GMED’s base business was showing foundational cracks and this weakness appears to have continued into 2Q25 despite investor optimism for a rebound,” the analysts wrote. “GMED continues to reaffirm its FY25 guidance despite the mixed preliminary results but we think there are increasing questions that will stem from this on the health of the legacy Spine business. We reiterate our Neutral.”
Shares of GMED fell 2.4% to $54.96 apiece before the market opened today.
