3M Poaches Zimmer Biomet CEO Hanson to Lead Healthcare Spinoff
August 22 2023 - 9:15AM
Dow Jones News
By Colin Kellaher
3M has named Bryan Hanson chief executive of its healthcare
spinoff, plucking the executive from musculoskeletal company Zimmer
Biomet Holdings.
3M on Tuesday said Hanson will join the St. Paul, Minn.,
industrial conglomerate on Sept. 1 as CEO of its healthcare
business group, which is being spun off as an independent
company.
Hanson has been president and CEO of Zimmer Biomet since late
2017 and chairman since 2021.
Zimmer on Tuesday said Ivan Tornos, its chief operating officer
since March 2021, takes the helm as president and CEO effective
immediately and is also joining the Warsaw, Ind., company's
board.
Zimmer said Suketu Upadhyay, who joined as executive vice
president and chief financial officer in 2019, is taking on
oversight of the company's global operations and supply-chain
functions, while its lead independent director, Christopher Begley,
succeeds Hanson as chairman.
3M in June unveiled plans to spin off the healthcare business,
which had $8.4 billion in sales in 2022, joining the ranks of
conglomerates using such moves to distinguish business lines with
the potential for better sales and profit growth.
3M on Tuesday said healthcare industry veteran Carrie Cox will
serve as chairman of spinoff.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
August 22, 2023 09:00 ET (13:00 GMT)
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