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Smiths Group appoints JehanZeb Noor to lead demerger of medical division

JehanZeb Noor will become chief executive of Smith Medical on July 1

Smiths
JehanZeb Noor joins from Amcor Flexibles

Smiths Group PLC (LON:SMIN) has appointed JehanZeb Noor to head the struggling medical division it is spinning off.

Noor joins from Amcor Flexibles, a specialist producer of sterile packaging for medical devices and pharmaceuticals, where he led the US healthcare business and global sales for medical.

READ: Smiths to spin-off struggling medical division into separate London-listed company

He will become chief executive of Smith Medical on July 1, overseeing the planned separation of the business, which is expected to be completed in the first half of fiscal year 2020.

Smiths announced its plans to demerge the medical business and list it as a separate company on the London Stock Exchange in March.

The medical business is the largest part of Smiths, representing about a third of revenues last year, but recent poor performance of the unit led to the decision to spin it off.

Smiths said Noor drove a significant improvement in margin and revenue growth during his three years at Amcor. He also led the integration of the US$5.26bn acquisition of Amcor rival, Bemis Co.  

"I look forward to working with JehanZeb as we continue building a strong, sustainable future for Smiths Medical and progress the separation of the business from Smiths Group,” said Smiths chief executive, Andy Reynolds Smith.

“I am confident that JehanZeb's intimate understanding of the MedTech industry combined with his strong track record of effective leadership, delivering growth and enhanced performance will make him a great success."

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Price: 1370 GBX

LSE:SMIN
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Market Cap: £5.43 billion
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