Deepak Nath, PhD, will replace Roland Diggelmann as CEO of Smith+Nephew, the devicemaker said Feb. 22.
Five things to know:
1. Dr. Nath previously worked at Siemens Healthineers, and his last role was president of diagnostics. In that role, he oversaw 15,000 employees and was responsible for $6 billion in sales.
2. Dr. Nath will step into the CEO role at Smith+Nephew April 1, and Mr. Diggelmann will leave his post March 31.
3. Dr. Nath's base salary will be $1.5 million.
4. Mr. Diggelmann was appointed CEO in 2019 and navigated Smith+Nephew through COVID-19. Recently, he led an initiative to develop the company's growth strategy.
5. "Deepak is a highly experienced leader with a track record of significant improvement in operations and execution at major global healthcare businesses," Roberto Quarta, chair of the board at Smith+Nephew, said in a news release. "He is joining us at an inflection point for the business and will bring his drive, experience and expertise to lead the team in delivering our strategy for growth at pace."