Smith & Nephew PLC (LON:SN.) has appointed Namal Nawana to replace Olivier Bohuon as the artificial hip and knee maker’s chief executive from next month.
In a statement, the FTSE 100-listed company noted that Nawana was most recently chief executive of medical diagnostics company Alere, where he oversaw its US$5.3bn acquisition by Abbott Laboratories (NYSE:ABT) in 2017.
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He will take over from Bohuon on May 7. Bohuon had announced in October that he would leave before the end of 2018.
Nawana’s base salary will be US$1.54mln a year, the company said.
Roberto Quarta, Smith & Nephew’s chairman, commented: "In Namal I am delighted that we have secured an exceptional new chief executive with a proven record within the medical device industry.
“He has the experience as a CEO of a major listed company in the healthcare sector, and has demonstrated that he can energise businesses to deliver better performance and greater value to shareholders.
“We are looking forward to him joining our Board and driving Smith & Nephew to the next level of success.”