Healthcare Industry News: joint replacement
News Release - November 10, 2008
Stryker Announces Organizational and Leadership ChangesKALAMAZOO, Mich., Nov. 10 (Healthcare Sales & Marketing Network) -- Stryker Corporation (NYSE: SYK ) announced today a series of organization and leadership changes that leverage the Company's deep talent bench and position it for continued success.
Si Johnson, Group President, MedSurg, has decided to retire following an exceptionally successful 29-year career with Stryker. It would be impossible to quantify the total impact Mr. Johnson has had on Stryker over these years, but what is very clear is the tremendous legacy of excellence and leadership that he will leave with the Company. In keeping with our history of providing smooth leadership transitions, Mr. Johnson will remain as an advisor to Stephen P. MacMillan, President and Chief Executive Officer, through 2009.
Following a very distinguished 14-year career at Stryker, Dean Bergy, Vice President, Chief Financial Officer, has decided to step out of the world of corporate finance and pursue his long-term interests with various charitable organizations. Mr. Bergy has played a pivotal role at Stryker during a period of tremendous sales and profitability growth for the organization. In order to ensure a seamless transition, Mr. Bergy will remain Stryker's CFO through the first quarter of 2009 and will continue to serve as an advisor to the new CFO and Mr. MacMillan throughout this transition period.
In light of Si Johnson's and Dean Bergy's decisions, we are realigning several of our MedSurg divisions to provide greater focus and take advantage of particular leaders' experience and expertise. Moreover, these changes should allow for greater global leverage and expansion of these key franchises.
Curt Hartman, currently Global President of the Instruments division, is promoted to the newly created position of Vice President, Finance, effective December 1, 2008 and reporting to Mr. MacMillan. Upon Mr. Bergy's transition out of the CFO role at the end of March 2009, Mr. Hartman will assume the full role of Chief Financial Officer. Mr. Hartman is an 18-year veteran of the Company with experience in numerous functional areas, and he has skillfully led the Instruments business since 2000 to become one of Stryker's most successful divisions.
Mr. Hartman will be supported by Stryker's experienced team of finance leaders consisting of Jeanne Blondia, Vice President - Treasurer, Eric Lum, Vice President - Tax, Jim Praeger, Vice President - Controller and Scott Hunter, Senior Director - Finance and Reporting. Additionally, reporting to Mr. Hartman is Tony McKinney, newly promoted Vice President and Chief Accounting Officer. Over the past thirteen years, Mr. McKinney has held financial leadership roles at the corporate, division and group levels in the U.S. and Asia. He most recently served as Vice President and Group CFO for Stryker's International Group.
Lonny Carpenter is promoted to the role of Group President, Stryker Instruments and Medical, reporting to Mr. MacMillan. Mr. Carpenter will have responsibility for the Instruments and Medical divisions, which, combined, represented approximately 20% of Stryker's total 2007 revenue. Mr. Carpenter has been with Stryker for 19 years, holding various leadership positions within both the Instruments and Medical divisions, most recently as President of Stryker Medical. His proven track record of delivering exceptionally strong results for Stryker Medical, combined with his in-depth knowledge of Stryker Instruments, provides a unique skill set that will allow these franchises to continue to deliver.
Tim Scannell is promoted to the role of Group President, Stryker Spine and Endoscopy, continuing to report to Mr. MacMillan. Mr. Scannell will have responsibility for the Spine and Endoscopy divisions, which, combined, represented approximately 15% of Stryker's 2007 revenue. Mr. Scannell joined Endoscopy in 1990 where he held various sales and marketing leadership roles before assuming responsibility for Stryker Biotech. Since 2003, Mr. Scannell served as President of Stryker's Spine division. Mr. Scannell's extensive knowledge of the spine and endoscopy markets will help ensure the continued success of Stryker's businesses going forward.
Andrew Fox-Smith is promoted to Group President, International, and continues to report to Mr. MacMillan. Along with his current divisional responsibilities for EMEA (Europe, Middle East, and Africa), Japan and the Pacific, Mr. Fox-Smith will now also have responsibility for Latin America and Canada as Stryker aligns all of its international businesses under one group. There are significant similarities within Stryker's various country sales and distribution businesses, and Mr. Fox-Smith's deep understanding and experience in these markets will bring great value to Stryker's Canada and Latin America businesses.
"On behalf of the Board of Directors and the entire Stryker organization, I want to personally thank both Si and Dean for all of their contributions to the Company. It has been my privilege to have worked closely with them for the past five years, and I have personally benefited from their leadership, insights and friendship," stated Stephen P. MacMillan, President and Chief Executive Officer of Stryker Corporation. "Fortunately our deep talent bench should allow us to leverage our unique global footprint and diversified revenue to continue delivering exceptional financial results."
Stryker Corporation is one of the world's leading medical technology companies with the most broadly based range of products in orthopaedics and a significant presence in other medical specialties. Stryker works with respected medical professionals to help people lead more active and more satisfying lives. The Company's products include implants used in joint replacement, trauma, craniomaxillofacial and spinal surgeries; biologics; surgical, neurologic, ear, nose & throat and interventional pain equipment; and endoscopic, surgical navigation, communications and digital imaging systems; as well as patient handling and emergency medical equipment. For more information about Stryker, please visit the Company web site at http://www.stryker.com/.
Issuer of this News Release is solely responsible for its
Please address inquiries directly to the issuing company.