Wright Medical adds member to audit committee, regains Nasdaq compliance

By Elaine Rigoli

Tampa, Fla., March 21 - Wright Medical Group, Inc. appointed David D. Stevens, an existing independent director, to the audit committee of the company's board of directors during a board meeting held Monday.

As previously disclosed, Richard B. Emmitt resigned as a director and a member of the audit committee on March 9.

This departure reduced the number of members of the audit committee to two and caused the company to become non-compliant with Nasdaq's rule requiring that every Nasdaq-listed company have an audit committee of at least three members, according to a news release.

With Monday's appointment of Stevens, the company regained compliance with the rule, the release said.

Arlington, Tenn.-based Wright Medical is an orthopaedic medical device company specializing in the design, manufacture and marketing of reconstructive joint devices and biologics.

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