Zimmer Biomet's stock experienced a pre-market plunge of 5.31% on Tuesday, following the announcement of its chief financial officer's departure and the release of its first-quarter financial results.

The medical device maker announced that CFO Suketu Upadhyay is leaving the company effective immediately to pursue another professional opportunity. Controller and Chief Accounting Officer Paul Stellato was named interim finance chief while the company searches for a permanent successor.

This leadership transition comes as the company reported better-than-expected first-quarter results, with adjusted earnings of $2.09 per share beating analysts' estimates of $1.86, and revenue of $2.087 billion slightly surpassing expectations. Zimmer Biomet also raised its full-year adjusted earnings guidance to a range of $8.40 to $8.55 per share from its previous outlook of $8.30 to $8.45.