Audubon’s Globus Medical has made David Demski CEO effective immediately after David C. Paul stepped down due to an undisclosed health condition, writes John George for Philadelphia Business Journal.

“Mr. Paul is expected to make a full recovery over the next several months and plans to remain actively involved with the company both during his recovery and thereafter,” said the company in a statement.

Paul, who is the company’s founder, will remain in the role of executive chairman. He has served as the CEO of the Montgomery County spine implant manufacturer since its inception fourteen years ago.

However in the future, he plans to spend more of his time focusing on strategic initiatives and less time on everyday operational matters.

Demski has been with the company since the beginning. He served as its chief financial officer from 2003 until 2008 when he became Globus’ president and chief operating officer.

In September last year, he became Globus’ group president for emerging technologies.

“No one is or could be more well suited to be CEO of Globus Medical than Dave,” said Paul. “He has been with us since the very start of this company.”

Read more about Globus Medical’s leadership change at Philadelphia Business Journal by clicking here.