Smith & Nephew Plc Retirement of Chief Executive Officer by end 2018 (0016T)
09 October 2017 - 5:00PM
UK Regulatory
TIDMSN.
RNS Number : 0016T
Smith & Nephew Plc
09 October 2017
Notice of Chief Executive Officer's intention to retire by end
of 2018
9 October 2017
Smith & Nephew plc (LSE:SN, NYSE:SNN), the global medical
technology business, announces today that Olivier Bohuon, 58, has
notified the Board of his intention to retire by the end of 2018,
after seven years as Chief Executive Officer. The Board is
commencing a search for a successor. In the meantime, Olivier will
continue to lead Smith & Nephew and drive the Company's growth
initiatives and operating plans.
Olivier Bohuon, CEO said:
"Since I joined the Company in 2011, we have transformed Smith
& Nephew into a more focused, efficient and innovative business
and I am proud of the value we have created for all of our
stakeholders. Looking ahead to the next long-term phase of growth,
I have decided to announce my retirement plans now, providing ample
time to identify a successor and ensure a smooth transition. I am
committed to leading the Company in the meantime, as we remain
resolutely focused on delivering a solid performance in 2017, while
positioning the Company for further success in the future."
Roberto Quarta, Chairman said:
"On behalf of the Board, I want to thank Olivier for his
professional and personal commitment and dedication to Smith &
Nephew during his tenure as our CEO. Under Olivier's leadership
Smith & Nephew has undergone important and necessary change and
is now a stronger Company. As Smith & Nephew enters its next
chapter, the Board is determined to build on this to deliver
accelerating growth, improved efficiency and further value for
shareholders."
This announcement contains inside information.
Ends
Enquiries
Investors
+44 (0) 20 7960
Ingeborg Øie 2285
Smith & Nephew
Media
Charles Reynolds +44 (0) 1923 477314
Smith & Nephew
+44 (0) 20 3727
Ben Atwell / Debbie Scott 1000
FTI Consulting
Forward calendar
The Q3 Trading Report will be released on 3 November 2017.
About Smith & Nephew
Smith & Nephew is a global medical technology business
dedicated to helping healthcare professionals improve people's
lives. With leadership positions in Orthopaedic Reconstruction,
Advanced Wound Management, Sports Medicine and Trauma &
Extremities, Smith & Nephew has around 15,000 employees and a
presence in more than 100 countries. Annual sales in 2016 were
almost $4.7 billion. Smith & Nephew is a member of the FTSE100
(LSE:SN, NYSE:SNN).
For more information about Smith & Nephew, please visit our
website www.smith-nephew.com, follow @SmithNephewplc on Twitter or
visit SmithNephewplc on Facebook.com.
Forward-looking Statements
This document may contain forward-looking statements that may or
may not prove accurate. For example, statements regarding expected
revenue growth and trading margins, market trends and our product
pipeline are forward-looking statements. Phrases such as "aim",
"plan", "intend", "anticipate", "well-placed", "believe",
"estimate", "expect", "target", "consider" and similar expressions
are generally intended to identify forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause actual
results to differ materially from what is expressed or implied by
the statements. For Smith & Nephew, these factors include:
economic and financial conditions in the markets we serve,
especially those affecting health care providers, payers and
customers; price levels for established and innovative medical
devices; developments in medical technology; regulatory approvals,
reimbursement decisions or other government actions; product
defects or recalls or other problems with quality management
systems or failure to comply with related regulations; litigation
relating to patent or other claims; legal compliance risks and
related investigative, remedial or enforcement actions; disruption
to our supply chain or operations or those of our suppliers;
competition for qualified personnel; strategic actions, including
acquisitions and dispositions, our success in performing due
diligence, valuing and integrating acquired businesses; disruption
that may result from transactions or other changes we make in our
business plans or organisation to adapt to market developments; and
numerous other matters that affect us or our markets, including
those of a political, economic, business, competitive or
reputational nature. Please refer to the documents that Smith &
Nephew has filed with the U.S. Securities and Exchange Commission
under the U.S. Securities Exchange Act of 1934, as amended,
including Smith & Nephew's most recent annual report on Form
20-F, for a discussion of certain of these factors. Any
forward-looking statement is based on information available to
Smith & Nephew as of the date of the statement. All written or
oral forward-looking statements attributable to Smith & Nephew
are qualified by this caution. Smith & Nephew does not
undertake any obligation to update or revise any forward-looking
statement to reflect any change in circumstances or in Smith &
Nephew's expectations.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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