Zimmer Biomet (NYSE:ZBH) said yesterday that longtime finance chief Daniel Florin is stepping down effective July 1, to be replaced as CFO by medical device veteran Suketu Upadhyay.
Florin is slated to stay on in an advisory capacity “for a period following the succession,” Warsaw, Ind.-based Zimmer said. Upadhyay’s CV includes stints Bristol-Myers Squibb, Endo International, Becton Dickinson, Johnson & Johnson and AstraZeneca.
“Dan Florin has been my right hand since I joined Zimmer Biomet. He is an outstanding leader and has made significant contributions to Zimmer Biomet over his 12 years with the company. As we have worked together tirelessly to reshape the organization over the last 18 months, I have been impressed by, and grateful for, his leadership, as well as his advice and counsel to me personally. Dan has been a true partner and I can’t thank him enough for the work he has done to help position our company for greater levels of growth and value creation in the future. I look forward to continuing to work with him on several critical projects during this transition period,” president & CEO Bryan Hanson said in prepared remarks. “We are pleased to welcome a leader of Suky’s caliber to Zimmer Biomet. He brings extensive leadership experience, financial acumen, knowledge of the healthcare space and deep expertise with multinational organizations that will be beneficial for Zimmer Biomet. We are confident that Suky is the right person to be our next chief financial officer and look forward to his contributions as we continue to transition to offense and position ourselves to deliver significant value to shareholders.”
“It has been a privilege to be a part of the Zimmer Biomet family, and I am very proud of our achievements,” Florin added. “The company is on a solid path given the team’s progress in accelerating the business and re-establishing the company as a trusted partner within the industry. With the progress we have made over the past 18 months, I have decided that this is the right time for me to retire so I can focus on priorities outside of my professional career, and spend more time with my family. I look forward to my next chapter, just as I look forward to the company’s continued success.”
“I am excited to join Zimmer Biomet at this important time in the company’s transformation,” Upadhyay said. “I was attracted to Zimmer Biomet because of the company’s significant opportunity to leverage its differentiated ecosystem of customer-centric solutions to help accelerate growth and provide true value to customers and patients. I look forward to working with Bryan and the rest of the leadership team to strive to further enhance the company’s financial and operational performance, and position Zimmer Biomet for continued success.”
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