Smith & Nephew (NYSE:SNN) said today that its current CEO Olivier Bohuon has announced his intention to retire by the end of 2018 and that the company has begun a search for a new chief exec.
Bohuon joined the company in 2011, and has overseen a significant rise in share value with the company since taking the corner office.
“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,” CEO Bohuon said in a prepared statement.
“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,” board chair Roberto Quarta said in a press release.
The company announced last February that Bohuon has a “highly treatable” type of cancer and planned to stay with the company while undergoing treatment, including chemotherapy.
Former NuVasive COO Hannon takes over at Mainstay Medical
Mainstay Medical (EPA:MSTY) said today that former NuVasive Inc. (NSDQ:NUVA) prez & COO Jason Hannon, who it named last week as its new CEO, has taken over the reins this week and was appointed to the company’s board.
Hannon succeeds former Peter Crosby, who was recruited in 2009 to lead the company and its development of the Reactiv8 neurostimulation device for treating chronic pain. Crosby is slated to stay on as a consultant for the company through 2020.
“Mainstay has pioneered a new approach to treating chronic low back pain which seeks to help the body repair itself rather than merely masking pain. ReActiv8 is aimed at providing a new therapy for the large number of patients for whom other treatments have failed. I look forward to working with the team to maximize the potential of ReActiv8 globally and build on Mainstay’s technology platform,” Hannon said in a press release.
Philips India taps Mazon as vice-chair, managing director
Philips India has tapped Daniel Mazon as its vice chair and managing director, according to a LiveMint report, effective Oct. 3.
Mazon is replacing recently retired head Raja Venkataraman, who held the position since Dec. 2015, according to the report.
“I am thrilled to join Philips India at a time when the company is responding to the country’s toughest challenges of providing a healthy lifestyle and affordable access to healthcare,” Mazon said in a statement, according to LiveMint.
Mazon has worked with Philips for 6 years, and prior to that worked with GE Healthcare and spent 12 years in roles in operations, quality, strategy, product development and sales & marketing, according to the report.