Lobo will transition to executive chair of the company’s board, effective Jan. 1, 2027. Spencer Stiles, who has been president and COO since the start of the year, will become CEO.
Since Lobo took over Stryker’s corner office in October 2012 (initially joining the company in 2011 as group president of orthopedics), the company has completed more than 60 acquisitions. The most consequential was undoubtedly the $1.68 billion purchase of Mako Surgical in 2013, enabling Stryker to shift the market dynamics for knee and hip surgery tools with an orthopedic surgical robotics system. Mako systems have been a key driver of Stryker’s growth, from $8.7 billion in sales in 2012 to an expected $26 billion in sales in 2026.
Amid major global expansion, Lobo also fostered a mission-based culture to improve healthcare alongside the company’s health provider customers, while advancing a specialized business operating model that has supported the company’s distinctive performance and growth.
“Serving as CEO of Stryker has been an incredible honor, and I am proud of all that our teams have accomplished together on behalf of our customers and the patients they serve,” Lobo said in a news release.
“The board and I have worked closely on a succession plan, and with our strong foundation in place, now is the right time for this leadership transition. Having worked alongside Spencer for many years, I have seen firsthand the qualities that define his leadership: his ability to set a clear direction, inspire people and translate strategy into strong execution. He understands what makes Stryker unique and has the judgment, experience and commitment to our mission and values to build on our momentum and lead the company forward. I look forward to working with Spencer to ensure a smooth transition and to continuing to support Stryker as executive chair of the board.”
Since joining the company’s Endoscopy business in 1999, Stiles has held leadership roles across nearly every Stryker business, including Orthopaedics, MedSurg and Neurotechnology. Before becoming president and COO in January 2026, Stiles served as group president of Orthopaedics, leading the company’s Joint Replacement and Trauma & Extremities businesses and its Digital, Robotics and Enabling Technologies organization. He has also led significant portfolio initiatives, including the $4.7 billion acquisition of Wright Medical in 2020, which boosted Stryker’s global market position in trauma and extremities. Stiles also managed the separation of the company’s spinal implants business in 2025.
Said Stiles: “I have a deep appreciation for our people, our culture and the customer relationships that drive our innovation and growth. Kevin has built an extraordinary legacy and a strong foundation for the future, which I am excited to build upon as we continue executing our strategy, driving growth and advancing our mission to make healthcare better.”
