Zimmer Biomet CFO Upadhyay Departs, Interim Finance Chief Named

Zimmer Biomet announced that Suketu Upadhyay, chief financial officer (CFO) and executive VP of finance, operations, and supply chain, has departed the company to pursue a new professional opportunity.

The company appointed Paul Stellato, who is currently controller and chief accounting officer, as interim CFO. The company is conducting an internal and external search to identify a permanent successor.

Stellato brings over two decades of broad financial and investor relations experience to the position. He’s currently controller, chief accounting officer, and head of corporate FP&A at Zimmer Biomet. Since joining the company in May 2022, he has advanced the company’s strategy and transformation through disciplined capital allocation, including recent acquisitions and its share repurchase program.

Previously, Stellato was a member of Xylem’s finance leadership team, where he served in several positions including: VP of finance for global business services; VP, controller, and chief accounting officer; and VP of financial planning and analysis. He also spent eight years at ITT Corporation, where he had roles of growing responsibility in the finance organization.

He spent his early career in public accounting with both Andersen and Ernst & Young.

“We are deeply grateful for Suky’s leadership and contributions to Zimmer Biomet over the past seven years,” said Ivan Tornos, chairman, president, and CEO of Zimmer Biomet. “We are confident Paul is the right leader to provide continuity and steady direction during this transition, as we continue to execute our strategy and deliver on our commitments.”