8 January 2024

Smith+Nephew completes Orthopaedics acquisition

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Smith+Nephew (LSE: SN, NYSE: SNN), the global medical technology business, announces that John Rogers will succeed Anne-Françoise Nesmes as Chief Financial Officer. He will join the company as Chief Financial Officer-designate on 1 December 2023 and, following a period of induction, will join the Board as Chief Financial Officer in the first quarter of 2024. 

John Rogers

Anne-Françoise’s intention to step down as Chief Financial Officer was announced on 3 August 2023, and she has agreed to remain on the Board to finalise the 2023 Annual Report and Accounts and support an effective transition.

John has extensive financial and commercial leadership experience across a range of sectors and on a global basis, as well as a track record of delivering complex international transformation programmes. He has served as the Chief Financial Officer of two FTSE-100 companies. He was most recently Chief Financial Officer at WPP plc where he successfully led the implementation of their global transformation programme. Prior to WPP, John was Chief Financial Officer at J Sainsbury plc and also served as Chief Executive Officer of Argos, Habitat and Sainsbury's clothing and general merchandise businesses, where he led a major digitisation programme, driving increased market share and double-digit profit growth.

Rupert Soames, Chair of the Board, said: “John is a highly regarded Chief Financial Officer with a proven track record operating around the world and across a number of industry sectors. His extensive experience in transformation and capital markets is especially important given Smith+Nephew’s focus on driving greater shareholder value. We look forward to welcoming him later this year.”

Deepak Nath, Chief Executive Officer, said: “I am delighted to welcome John to Smith+Nephew and look forward to working with him as we continue to turn around performance and deliver the 12-Point Plan. I would like to thank Anne-Françoise for her dedicated service since she joined in 2020 and for her commitment to effecting a smooth transition to our new Chief Financial Officer.”

John Rogers said: “This is a great opportunity to join one of the world’s leading healthcare companies with a strong heritage and an ambitious vision for the future. I am delighted to be joining Deepak and the team to drive execution of the 12-Point Plan and deliver the Company’s Strategy for Growth.”

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 change.

This announcement includes inside information as defined in Article 7 of the UK Market Abuse Regulation. The person responsible for arranging the release of this announcement on behalf of the Company is Helen Barraclough, Company Secretary.

Separately, today Smith+Nephew also announced its trading update for the third quarter ended 30 September 2023.

Remuneration

The Remuneration Committee considered the remuneration arrangements for John Rogers and agreed that his remuneration should be set having regard to his tenure as a FTSE100 Chief Financial Officer and base salary in previous roles. He will be paid in accordance with the Remuneration Policy approved by shareholders on 26 April 2023 (the “Policy”) as set out in the 2022 Annual Report. In summary:

 

Anne-Françoise will be treated in accordance with the Policy and her contract of employment for the remaining term of her employment. In summary:

 

Further announcements regarding confirmation of Anne-Françoise's compensation will be made in due course in accordance with applicable legislation.

Full details will be disclosed in the Directors' Remuneration Report for the relevant year.

Enquiries

 

Investors / Analysts

Andrew Swift
Smith+Nephew

 

 

+44 (0) 1923 477433

Media

Charles Reynolds
Smith+Nephew

 

 

+44 (0) 1923 477314

Susan Gilchrist / Ayesha Bharmal
Brunswick

+44 (0) 20 7404 5959

 

 

About Smith+Nephew

Smith+Nephew is a portfolio medical technology business that exists to restore people’s bodies and their self-belief by using technology to take the limits off living. We call this purpose ‘Life Unlimited’. Our 19,000 employees deliver this mission every day, making a difference to patients’ lives through the excellence of our product portfolio, and the invention and application of new technologies across our three global business units of Orthopaedics, Advanced Wound Management and Sports Medicine & ENT.

Founded in Hull, UK, in 1856, we now operate in more than 100 countries, and generated annual sales of $5.2 billion in 2022. Smith+Nephew is a constituent of the FTSE100 (LSE:SN, NYSE:SNN). The terms ‘Group’ and ‘Smith+Nephew’ are used to refer to Smith & Nephew plc and its consolidated subsidiaries, unless the context requires otherwise.

For more information about Smith+Nephew, please visit www.smith-nephew.com and follow us on XLinkedInInstagram or Facebook.

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

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