Resignation Letters

Standard Resignation Letter

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David Floyd, After Being A President

September 2007, David Floyd was named as the President of the giant company DePuy Orthopedics Inc. A Johnson and Johnson company, DePuy is considered the world’s first modern orthopedic company and one of the largest orthopedic device makers in the world today. Despite being the leader in the orthopedic industry, its projected growth rate is less than that of its competitors. With Floyd as the president, the company is said to soar high and power up its growth rate. But 4 years after he signed as DePuy’s president, he submitted his resignation letter and later pronounced as the new CEO of an orthopedic industry trade association.

An industry analyst said that what the company lacks is the edge over other companies. As the new DePuy President, he is expected to give high ranks and rates to the company. According to the publisher of industry newsletter Orthopedics This Week, “I think DePuy right now needs to get its mojo back, and David’s got a chance to get it back.” Floyd played a big part in their company’s rising orthopedic business and served as board of the DePuy Franchise Global Management.“We’re confident he will lead the company to new heights and help surgeons continue to raise the standard of orthopaedic care for patients through a commitment to innovation, quality and service excellence”, voiced Mike Mahoney, Company Group Chairman of DePuy Inc. Hopes were high as the company starts a new chapter with their new president.

On March 2011, almost four years after he was named as president, Floyd submitted his letter of resignation to the DePuy Orthopedics.He is leaving to “pursue interests outside the company,” as announced by the company’s spokesperson. He made the resignation in the middle of the massive hip recall encountered by the company. The company was performing well under the leadership of Floyd, but when they started to do a recall on their ASR hip replacement system, fortunes began to change. After receiving a higher-than-normal number of patients who needed revision surgeries, on August 2010, DePuy issued a voluntary recall on their hip devices.

From that time on, several patients have taken legal action against DePuy Orthopedics. These charges are claiming that the company knew the design was defective but continued to introduce it to the market. Through the 510(k) approval process, DePuy introduced ASR to the public in 2005. Floyd may not be the president in the year the product was released, there are reports that he allegedly failed to act immediately after warning s and complains about the product has been made. A worldwide DePuy hip recall was done a few years after initial warnings were given.

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