Merit Medical Systems (Nasdaq:MMSI) has announced that Joseph C. Wright, its current President, will step down from his position, effective January 3, 2025. The organization, based in South Jordan, Utah, specializes in producing disposable medical devices, and attributed Wright’s decision to step down to accusations regarding his behavior.
“The company disclosed that prior to Mr. Wright’s decision to resign, Merit had been alerted to claims about his behavior. These were thoroughly examined by independent board members alongside external legal counsel,” the Merit Medical statement specifies. The claims have no association with the company’s operations or financial standing.
In light of Wright’s departure, the company’s board has reinstated Fred P. Lampropoulos as President. Lampropoulos, who founded Merit and had previously disclosed plans to retire, will now perform the role of president and CEO through December 31, 2025.
Wright, who became part of Merit Medical in 2005, contributed two decades to the organization. He recently assumed the position of president and managed global commercial, marketing, research & development, and manufacturing activities. Before his current role, he was the Chief Commercial Officer in charge of directing and expanding Merit’s worldwide commercial initiatives.
Other positions Wright held include leading the company’s international division, serving as VP of global marketing, directing the OEM unit, and overseeing the technology group. According to the company’s website, he significantly contributed to the company’s abroad expansion. Before joining Merit Medical, Wright held sales, marketing, and business development roles at Motorola and Micron.