Stryker (NYSE:SYK) said yesterday that CFO and veep William Jellison is retiring, and will be replaced by former medsurg & neurotechnology group CFO Glenn Boehnlein.
The Kalamazoo, Mich.-based company said Jellison, who’s been with Styker for 3 years, will pursue positions on boards and devote more time to his family. Jellison will stay on through Q1 to aid in the transition.
“I want to thank Bill for his leadership since joining Stryker as he helped advance a series of key priorities, including implementing a layered hedging program, executing on a number of acquisitions, and facilitating the establishment of our European regional headquarters. These accomplishments have meaningfully contributed to our success and were achieved while enabling our internal talent pool to develop, including Glenn who has been promoted to CFO. I am confident in Glenn’s ability to lead our finance organization and partner with the broader organization to help Stryker continue to deliver sales growth at the high end of Med Tech while consistently achieving leveraged earnings gains,” CEO Kevin Lobo said in a press release.
Boehnlein joined Stryker in 2003 as endoscopy biz finance & IT veep, and was promoted through different roles, landing as MSNT group CFO in 2011. Prior to joining Stryker, Boehnlein spent 3 years as CFO of Success TV.
Yesterday, Stryker beat the consensus forecast on Wall Street with its 4th-quarter and full-year results, sales and earnings, sending share prices up today in late trading.
Stryker said it expects to put up adjusted EPS of $1.17 to $1.22 on sales growth of 5.0% to 6.0% during the 1st quarter. Full-year adjusted EPS are pegged at $5.50 to $5.70, again on sales growth of 5.0% to 6.0%.
SYK shares closed up 1.8% at $96.15 apiece yesterday.
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