WARSAW — According to Market Watch, Zimmer Biomet’s CEO David Dvorak was announced to be stepping down effective immediately.

Shares declined in the extended session Tuesday after the maker of orthopedic and spinal medical devices announced its chief executive was stepping down and said it expects second quarter earnings to be at the low end of its guidance. Zimmer shares declined 2 percent to $124 after hours.

Zimmer said CEO David Dvorak is stepping down effective immediately, and that Chief Financial Officer Daniel Florin will serve as interim CEO until a successor is named.

In a separate statement, the company said it expects per-share earnings “to be at or near the bottom of its previously issued guidance range of $2.08 to $2.13”. Analysts polled by FactSet expect $2.11 a share.