Stryker announces organizational changes: Lonny J. Carpenter to retire
Kalamazoo, Michigan - April 3, 2018 - Stryker Corporation (NYSE:SYK) announced today that after 30 years of distinguished service, Lonny Carpenter, Group President, Global Quality and Business Operations has notified the Company of his intent to retire on March 31, 2019.
Mr. Carpenter will transfer his responsibility for Global Quality and Operations to Viju Menon, as outlined below, and retain responsibilities for our regional business operations outside of the U.S. and Asia-Pacific. He will also remain involved with our Cost Transformation for Growth program.
Mr. Carpenter began his career with Stryker in 1989 at the Instruments division where he excelled in various manufacturing and operations roles. He then proceeded to take on numerous operations and commercial business roles across the Company, including President of Medical and Group President, Instruments and Medical. In 2011, he became Group President, Global Quality and Operations and in 2014, his role was expanded to include responsibility for commercial business operations in Europe, Middle East, Africa, Canada, and Latin America.
"We are grateful for Lonny's many contributions to Stryker's growth and globalization efforts over the last three decades. He has been the key architect of numerous change initiatives, including our Quality Program, the establishment of our Trans-Atlantic Operating Model and Cost Transformation for Growth. He is a master collaborator and embodies our culture and values. I wish Lonny and his family all the best on his retirement," said Kevin A. Lobo, Chairman and Chief Executive Officer.
Viju Menon will be joining Stryker as Group President, Global Quality and Operations, effective April 30, 2018. He will be responsible for running our quality, manufacturing, procurement and logistics organizations. He will work closely with Lonny to help ensure a smooth transition. "I am pleased that Viju will be joining the Stryker Leadership Team. His vast experience and technology background will complement our team and help drive Stryker's continued growth," said Mr. Lobo.
Mr. Menon joins us from Verizon where he served as Chief Supply Chain Officer, driving significant transformations in global sourcing and operations across all business units. Previously, in his career with Intel Corporation, Viju progressed through various leadership roles in Technology and Manufacturing and served as Head of Supply Planning Operations across Intel's global factory network.
Mr. Menon earned dual graduate degrees (MBA and M.S. in Electrical Engineering) from the Massachusetts Institute of Technology's Leaders for Global Operations Program. He also earned a graduate degree (M.S.E. in Computer Science Engineering) from the University of Michigan.
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.
This press release contains information that includes or is based on forward-looking statements within the meaning of the federal securities law 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 the Rejuvenate and ABG II matter; 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; 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.
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