MiMedx’s board of directors has decided to replace its president and its CEO as a result of an ongoing internal investigation and federal probes into its accounting and sales compliance practices, less than a month after the company said it would need to restate five years’ worth of financial disclosures.
CEO Parker “Pete” Petit, who also served as chairman of the board, has resigned from his roles but remains on MiMedx’s board as a member. In addition, William Taylor resigned as president and chief operating officer, as well as a member of the board.
The resignations follow the departures of the Marietta, Georgia-based company’s chief financial officer, Michael Senken, and its treasurer, John Cranston—and the June 7 announcement that MiMedx would withdraw its financial…
