Stryker announces commercial structure realignment
August 12 2019 - 4:00PM
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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