Scott M. Sutton resigned as President and CEO effective April 16, 2026. The Board established an interim Office of the CEO (OFC) consisting of four senior executives: Marcus J. Moeltner (CFO), Michael Osborne (VP Manufacturing), Christian Ribeyrolle (SVP Biomaterials), and R. Colby Slaughter (SVP General Counsel). The company has engaged Morgan Stanley & Co. LLC as financial advisor and Wachtell, Lipton, Rosen & Katz as legal counsel to explore strategic alternatives. Potential outcomes include a sale of the company, strategic investment, merger, or continuation of the current standalone plan. The company generated $1.5 billion in revenue during the 2025 fiscal year.