New Exactech CEO Takes Over Role From Founder

David Petty has been promoted to the position of CEO at Exactech Inc., and his father, company founder and former CEO William Petty, M.D., will take the position of executive chairman.

“I enthusiastically accept the challenge of leading Exactech as CEO,” said David Petty. “For nearly 30 years we have built a strong company through a heavy focus on patient outcomes and service to our surgeon customers. I am personally committed to maintaining this strategy and continuing the positive business results that flow from our patient and surgeon focused approach.”

Petty went on to acknowledge his father’s years of contribution to the company, growing the company to 600 global employees over three decades.

“Exactech is a true ‘American Dream’ story that started on the back of an envelope to become a highly successful $237 million plus enterprise,” David Petty continued. “Those of us who now pick up the responsibility for leading the company forward pledge to continue to build an enduring, meaningful company for the benefit of all stakeholders.”

“I am confident in Exactech’s future with David leading from the top executive position in the company,” said William Petty. “He is well-respected throughout Exactech. I am secure in the knowledge that he has the support of a strong, experienced management team and talented, capable employees. David became the first regular employee of Exactech when he joined the company in 1988. He has played a key role in every stage of our growth and development and he knows the company and our industry well … In addition to my board responsibilities, I will remain active in the company providing all the value I can in promoting Exactech’s continued success.”

David Petty was named president of the company and elected to the board of directors in December 2007. He previously served as executive vice president of sales and marketing from February 2000 until December 2007 and has served as a member of the leadership team and the strategy-finance committee, which oversee and direct the company’s operations. Since joining the company in 1988, he has been employed in successive capacities in the areas of operations, sales and marketing. He served as vice president of operations from April 1991 until April 1993 and vice president of marketing from 1993 until 2000. He was a director of the company from March 1989 until March 1996; from January 2002 until May 2003; and again from 2008 to the present. Mr. Petty received his B.A. from the University of Virginia in 1988 and completed the executive program of the Darden School of Business in 1999.

William Petty, M.D., is a founder of Exactech. He has been chairman of the board and CEO of the company since its inception in 1985 and president from January 2002 until December 2007.

Based in Gainesville, Fla., Exactech makes orthopedic implant devices, related surgical instruments and biologic materials.