Citing health issues, Phillip Gordon stepped down as president and CEO of the Globus family of brands.

COO Scott Nisbet was promoted to replace Gordon, who assumes the role of chairman.

"It's certainly still very much a full-time position," Gordon said of his new role.

Gordon, who was diagnosed with leukemia and underwent a bone marrow transplant in 2008, added, "I am enjoying being in full remission, so that's a positive. But I still need to kind of monitor things there, but at the same time still stay involved in the business."

Gordon took over as president and CEO in 2004 and has been with Globus for 33 years.

Gordon said Globus will have a chairman for the first time since the mid-1990s. He plans to oversee the company's financial operations as well as work with Nisbet on various initiatives and projects.

Nisbet, who has been with Globus for 11 years and was named senior vice president and COO in 2004, will be managing day-to-day operations but also taking on a larger role in the direction of the company, according to Gordon.

Nisbet will also assume the demanding travel schedule of Globus' president and CEO.

"The expectation of the presidency is to represent the company at numerous industry functions," said Gordon. "I expect to be able to participate, but not necessarily to the same extent."