Stryker Corporation’s Board of Directors announced today that Kevin A. Lobo has been named the Company’s President and Chief Executive Officer, effective immediately. He has also been named to the Company’s Board of Directors. Mr. Lobo joined Stryker in April 2011, and was most recently Group President of Stryker Orthopaedics. Orthopaedics includes the Company’s Reconstructive, Osteosynthesis, Joint Preservation, Orthobiologics and Performance Solutions businesses.
Stryker’s been deliberating since February about who should replace the suddenly departing Stephen MacMillan. The position was held on an interim basis by Curt Hartman, until then the company’s CFO. Hartman was widely tipped as successor to MacMillan and has announced his departure from the company following a transitional period.
Kevin Lobo is another finance man, having what the press release describes as a “broad and diverse 25-year business career” culminating most recently in a number of key positions within J&J and its Ethicon Endosurgery division. He joined Stryker in 2011, having been brought in by MacMillan.
William U. Parfet, Non-Executive Chairman of the Board, said, “After a very thorough search process involving external and internal candidates, we are pleased to name Kevin Lobo as Stryker’s President and Chief Executive Officer. He is a talented executive with a broad range of global experience and he knows our Company and industry extremely well. Since joining Stryker in 2011 he has proven to be a highly effective leader for our Orthopaedics Group, and he has won the confidence of employees, customers and the Board. We are excited about Stryker’s future under Kevin and believe our shareholders and all stakeholders will benefit from his leadership.”
New incumbent comments
Mr. Lobo said, “Stryker is a company with a proud history and a bright future. Since joining the Company last year, I have witnessed firsthand the commitment of our talented people as they work to enhance the lives of patients. It’s a privilege to have the opportunity to lead this great Company, and I look forward to working with the Board and our people throughout the organization to maximize our strengths, build on our leadership position and create value for shareholders.”
Source: Stryker Corporation