Stryker announces commercial structure realignment

Date : 08/12/2019 @ 9:00PM
Source : GlobeNewswire Inc.
Stock : Stryker Corp (SYK)
Quote : 221.2  0.0 (0.00%) @ 11:00AM

Stryker announces commercial structure realignment

Stryker (NYSE:SYK)
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2 Months : From Jul 2019 to Sep 2019

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Stryker (NYSE:SYK) announced today an adjustment to its commercial organizational structure. Spencer S. Stiles will serve as Group President of Orthopaedics and Spine and will oversee Stryker’s Joint Replacement, Trauma & Extremities and Spine divisions. J. Andrew Pierce, Group President of MedSurg and Neurotechnology will oversee Stryker’s Instruments, Medical, Endoscopy, Sustainability and Neurotechnology businesses.

Mr. Stiles and Mr. Pierce have both served at Stryker for over 20 years and will continue to report to Timothy J. Scannell, President and Chief Operating Officer in their newly expanded roles. Since August of 2018, Mr. Scannell has been responsible for all of the company’s commercial businesses and regions. This change will further accelerate the globalization and collaboration opportunities being unlocked in this structure and leverage the diverse experience of these leaders.

Stuart F. Simpson, President of Joint Replacement has left the company to pursue other career interests.

Caution Concerning Forward-Looking Statements

This press release contains information that includes or is based on forward-looking statements within the meaning of the federal securities laws that are subject to various risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in such statements. Such factors include, but are not limited to: weakening of economic conditions that could adversely affect the level of demand for our products; pricing pressures generally, including cost-containment measures that could adversely affect the price of or demand for our products; changes in foreign exchange markets; legislative and regulatory actions; unanticipated issues arising in connection with clinical studies and otherwise that affect U.S. Food and Drug Administration approval of new products; potential supply disruptions; changes in reimbursement levels from third-party payors; a significant increase in product liability claims; the ultimate total cost with respect to recall-related matters; the impact of investigative and legal proceedings and compliance risks; resolution of tax audits; the impact of the federal legislation to reform the United States healthcare system; costs to comply with medical device regulations; changes in financial markets; changes in the competitive environment; our ability to integrate acquisitions; and our ability to realize anticipated cost savings. Additional information concerning these and other factors is contained in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

Stryker is one of the world’s leading medical technology companies and, together with its customers, is driven to make healthcare better. The company offers innovative products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine that help improve patient and hospital outcomes. More information is available at www.stryker.com.

Contacts

For investor inquiries please contact:Katherine A. Owen, Vice President, Strategy & Investor Relations at 269-385-2600 or katherine.owen@stryker.com

For media inquiries please contact:Yin C. Becker, Vice President, Communications, Public Affairs and Corporate Marketing at 269-385-2600 or yin.becker@stryker.com

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