Stryker Appoints Lobo as Board Chairman

Stryker Corporation has appointed CEO Kevin A. Lobo as board chairman, effective immediately.

William U. Parfet, Stryker’s non-executive chairman, will again assume the role of lead independent director. Lobo joined Stryker in April 2011 and served as group president of Stryker Orthopaedics prior to his appointment as president and CEO in October 2012.

“On behalf of the entire board, we are excited about the outlook for Stryker and the leadership demonstrated by Kevin with our employees, customers and shareholders which is the driving force behind today’s announcement,” said Parfet. “We believe the company is well positioned to build on our history while continuing to adapt to the changing needs of the healthcare market place.”

In announcing the changes, the board expressed its appreciation of Parfet’s contributions over the years, which included his recent tenure as non-executive chairman, and look forward to his continued participation in his role as lead independent director.

Lobo has a broad 25-year business career that includes executive positions in general management and finance. After holding finance positions with KPMG and Unilever Canada, he joined Kraft Canada in 1992. He subsequently held executive positions at Rhone-Poulenc, including roles based in Europe as worldwide corporate controller of the chemical spin-out, Rhodia, and general manager of Specialty Phosphates EMEA. In 2003 he joined Johnson & Johnson at McNeil Consumer Healthcare as chief financial officer (CFO). In 2004 he took on additional responsibilities as CFO of Ortho Women’s Health and Urology and General Manager of McNeil Canada. In 2005 he was named president of Johnson & Johnson’s Medical Products Canada and in 2006 he became president of Ethicon Endo-Surgery Inc., a $4 billion business.