Smith+Nephew Announces Rupert Soames as Chair Designate

Smith+Nephew has announced that Rupert Soames OBE will succeed Roberto Quarta as Chair of the Company. Mr Quarta has reached the end of his tenure and will retire as Chair and Non-Executive Director in 2023.

Mr Soames will be appointed as an Independent Non-Executive Director at the Company’s Annual General Meeting on 26 April 2023, subject to shareholder approval, and will succeed Mr Quarta as Chair with effect from 15 September 2023. Mr Quarta has agreed to continue as Chair to ensure a smooth transition and will put himself forward for re-election as a Non-Executive Director on 26 April 2023 on this basis.

Mr Soames has extensive global leadership experience in both executive and non-executive roles. Most recently he served as Chief Executive Officer of Serco Group plc, the global outsourced services provider, between 2014 and 2022 where he led the successful turnaround. He was Chief Executive of Aggreko plc, the support services company (2003-2014) and also served as a Non-Executive Independent Director at both DS Smith, the sustainable packaging business (2019-2022) and support services company Electrocomponents plc (2007-2016) (now RS Group). On joining the Board, Mr Soames will be appointed to the Nomination & Governance Committee and the Remuneration Committee.

Marc Owen, Senior Independent Director, who along with the Nomination Governance Committee led the Chair search process, commented:

The Board conducted an extensive search for a new Chair and we are delighted to welcome Rupert to the Board. We believe that Rupert’s extensive track record of value creation in global companies and deep understanding of corporate governance will help Deepak Nath and his team deliver on their existing plans to grow the business and to improve its operational performance. I would like to thank Roberto for his unwavering commitment and support to the Board and for his contribution and service to the Company during his tenure.

Rupert Soames said:

“Smith+Nephew is a leader in the medical technology sector with a 167-year history of supporting patients to return to health. I am honoured to be the next Chair of the Board, and look forward to working with Deepak, the Smith+Nephew organisation and the Board to deliver on Smith+Nephew’s great potential.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.”

Source: Smith+Nephew