Zimmer Biomet Reveals Changes to Board of Directors

Zimmer Biomet has announced several upcoming changes to its board of directors.

Non-executive chairman of the board Christopher Bagley will retire from the board at the company’s May 29 annual meeting of stockholders. This is pursuant to the mandatory director retirement age in Zimmer Biomet’s corporate governance guidelines.

President and CEO Ivan Tornos will become chairman of the board upon Begley’s retirement. ResMed chairman and CEO Michael (Mick) Farrell will also become lead independent director upon Begley’s retirement.

Begley has served on Zimmer Biomet’s board since 2012, lead independent director since May 2021, and non-executive chairman since August 2023. During his tenure as a director, he was also a member of the Corporate Governance and the Compensation and Management Development Committees, and was Chair of the Quality, Regulatory and Technology Committee.

He’s the retired chairman and CEO of Hospira and retired non-executive chairman of the board of Hanger.

“Chris has been a tremendous advisor to Zimmer Biomet since joining the Board in 2012. His vision, thoughtful counsel, and dedication to the Company have been instrumental in positioning Zimmer Biomet as a MedTech leader and innovator,” said Tornos. “On behalf of the entire Board of Directors and Leadership Team, I want to extend my deep gratitude to Chris for his exemplary leadership and service as a member of Zimmer Biomet’s Board. We have all benefited immensely from Chris’s guidance, leadership and mentorship as Board Chair.”

Farrell was been a company board member since 2014, currently serving as Chairman of the Compensation and Management Development Committee and as a member of the Quality, Regulatory and Technology Committee.

“We are honored to have Mick serve as our Lead Independent Director,” said Tornos. “He is a respected and accomplished business leader who brings strong integrity, a collaborative approach, and a valuable strategic perspective to our Board. I look forward to working with him in his new role.”

Last month, Zimmer Biomet announced it had begun a $1.2 billion deal to acquire Paragon 28, a company with a suite of surgical offerings and product systems spanning all major foot and ankle segments.