ConvaTec named John Cannon acting CFO following the departure of Edward Borkowski, who left the company for undisclosed reasons. Cannon moved up the ranks from his former position as VP of finance for the company’s global operations.
Before ConvaTec, Cannon worked in banking at PMC Treasury, Singer Sewing and Bankers Trust/Deutsche Bank.
Covidien said the new numbers reflect the pharma unit as a discontinued operation, with COV shareholders slated to receive a tax-free distribution, according to a regulatory filing.
But, although some are decidedly bullish on ABT, others are taking a more cautious approach until more is known about the structure of the deal.