Former Alere Executive Named CEO of Smith & Nephew.
Smith & Nephew plc, the global medical technology business, has appointed Namal Nawana as CEO. He joined the company and was appointed to the board as an executive director on May 7.
Most recently, Namal was CEO of the medical diagnostics company Alere Inc., where he led the successful turnaround of this global business and oversaw its $5.3 billion acquisition by Abbott in 2017. He joined Alere as chief operating officer in December 2012.
Prior to Alere, Namal spent more than 15 years at Johnson & Johnson, primarily in its Medical Devices & Diagnostics segment, in a number of progressively senior commercial leadership roles across markets including in the United States, Asia, and Europe. In 2011, he became worldwide president of DePuy Synthes Spine, where he oversaw a transformation program including substantial margin improvement and the integration of Synthes following its acquisition in 2012.
Namal will succeed Olivier Bohuon, who will step down from the Board on May 7. During his notice period, Olivier will be available in an advisory capacity to provide advice and assistance to Namal in his new role to help ensure a smooth transition.
Roberto Quarta, Chairman of Smith & Nephew, commented, "In Namal I am delighted that we have secured an exceptional new chief executive with a proven record within the medical device industry. He has the experience as a CEO of a major listed company in the healthcare sector, and has demonstrated that he can energize businesses to deliver better performance and greater value to shareholders. We are looking forward to him joining our board and driving Smith & Nephew to the next level of success."
"I would also like to thank Olivier for his service. In his seven years as chief executive, Smith & Nephew has undergone important and necessary change and he has significantly strengthened the foundations of our company. This has delivered strong value to shareholders, almost doubling the share price and materially outperforming the FTSE100, while also increasing the dividend distribution by more than 100 percent. On behalf of the Board and all of Smith & Nephew I wish him a happy retirement and all the best for the future."
Namal Nawana commented, "I am passionate about the medical devices industry where I have worked all my life and it is an honor to become the new chief executive of Smith & Nephew, a company I greatly admire. I am most excited by its portfolio of innovation which I believe gives an excellent platform from which to drive the business forward into its next chapter."
Nawana is an independent member of the board of Hologic Inc. No further disclosure obligations arise under paragraphs (1) to (6) of LR 9.6.13 R of the UK Listing Authority's Listing Rules in respect of this appointment.
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|Title Annotation:||NEWS FRONT|
|Publication:||Orthopedic Design & Technology|
|Date:||May 1, 2018|
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