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Smith+Nephew Announces Dr. Deepak Nath as new CEO

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Smith+Nephew has today announced that Dr. Deepak Nath has been appointed as the Company’s new Chief Executive Officer (CEO), succeeding Roland Diggelmann, who will step down by mutual agreement. Deepak will take up the role on 1 April 2022 and Roland will leave on 31 March 2022.

Deepak joins Smith+Nephew from Siemens Healthineers (2018-2022) where most recently he was President of the Diagnostics business segment responsible for $6 billion of sales and 15,000 employees. During his time there he led a major programme to drive growth and margin expansion through improved execution and a strong results-focused culture.

Prior to Siemens Healthineers, Deepak held a number of senior roles at Abbott Laboratories Inc (2007-2017) spanning R&D, marketing, commercial and divisional leadership, rising to become President of Abbott Vascular and an Executive Officer of Abbott Laboratories. At Abbott he significantly improved performance of the Vascular business and had a leadership role in the $28 billion acquisition of St Jude Medical.

Deepak also worked for Amgen (2004-2007), McKinsey and Company (2000-2004) and as a scientist at the Lawrence Livermore National Laboratory. He holds BSc and MSc degrees in Mechanical Engineering and a PhD in Theoretical Mechanics from the University of California, Berkeley. 

Since his appointment in 2019 Roland has navigated Smith+Nephew through the challenges presented by COVID whilst also building a stronger platform for future growth including increasing investment in R&D and launching multiple new products. Most recently he led the process whereby the Board and management team developed our Strategy for Growth, with its focus on transforming Smith+Nephew to a structurally higher growth company. Deepak and the Smith+Nephew management team will take forward the delivery of this transformation through increased productivity, improved commercial execution, and a continued focus on innovation.

Roberto Quarta, Chairman of Smith+Nephew, said:

“On behalf of the Board, I am delighted to welcome Deepak as Smith+Nephew’s incoming CEO. Deepak is a highly experienced leader with a track record of significant improvement in operations and execution at major global healthcare businesses. He is joining us at an inflection point for the business and will bring his drive, experience and expertise to lead the team in delivering our Strategy for Growth at pace.

“I would like to thank Roland for his commitment and leadership during challenging times, and the important work he has done to ready Smith+Nephew for our next stage of development.”

Deepak Nath said:

“Smith+Nephew is a great company with innovation at its core and a purpose of Life Unlimited, supporting patients around the world in returning to a healthy and fulfilled life. I am honoured to have been given the opportunity to lead the business. I look forward to building on Smith+Nephew’s rich history and heritage and working with the team to take it to the next level of growth.”

Roland Diggelmann said:

“It has been a privilege to lead Smith+Nephew. I would like to thank my colleagues across the business for their tireless efforts to support our customers and communities, and continue to deliver against the backdrop of COVID. I look forward to seeing the business go from strength to strength under Deepak’s leadership.”

Source: Smith+Nephew.

Forward-looking Statements

This document may contain forward-looking statements that may or may not prove accurate. For example, statements regarding expected revenue growth and trading margins, market trends and our product pipeline are forward-looking statements. Phrases such as “aim”, “plan”, “intend”, “anticipate”, “well-placed”, “believe”, “estimate”, “expect”, “target”, “consider” and similar expressions are generally intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. For Smith+Nephew, these factors include: risks related to the impact of COVID, such as the depth and longevity of its impact, government actions and other restrictive measures taken in response, material delays and cancellations of elective procedures, reduced procedure capacity at medical facilities, restricted access for sales representatives to medical facilities, or our ability to execute business continuity plans as a result of COVID; economic and financial conditions in the markets we serve, especially those affecting healthcare providers, payers and customers (including, without limitation, as a result of COVID); price levels for established and innovative medical devices; developments in medical technology; regulatory approvals, reimbursement decisions or other government actions; product defects or recalls or other problems with quality management systems or failure to comply with related regulations; litigation relating to patent or other claims; legal compliance risks and related investigative, remedial or enforcement actions; disruption to our supply chain or operations or those of our suppliers (including, without limitation, as a result of COVID); competition for qualified personnel; strategic actions, including acquisitions and dispositions, our success in performing due diligence, valuing and integrating acquired businesses; disruption that may result from transactions or other changes we make in our business plans or organisation to adapt to market developments; relationships with healthcare professionals; reliance on information technology and cyber security; and numerous other matters that affect us or our markets, including those of a political, economic, business, competitive or reputational nature. Please refer to the documents that Smith+Nephew has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Smith+Nephew’s most recent annual report on Form 20-F, for a discussion of certain of these factors. Any forward-looking statement is based on information available to Smith+Nephew as of the date of the statement. All written or oral forward-looking statements attributable to Smith+Nephew are qualified by this caution. Smith+Nephew does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances or in Smith+Nephew’s expectations.

◊ Trademark of Smith+Nephew. Certain marks registered US Patent and Trademark Office.

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