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|Stryker Announces Changes to Executive Leadership|
Kalamazoo, Michigan - November 8, 2012 - Stryker Corporation (NYSE:SYK) announced today the appointment of David K. Floyd to the role of Group President, Orthopaedics, effective November 15, 2012. Orthopaedics includes the Company's Reconstructive, Trauma and Extremities, Joint Preservation, Orthobiologics and Performance Solutions businesses. Mr. Floyd will report to Kevin A. Lobo, President and Chief Executive Officer of Stryker.
"David brings a strong medical device and orthopaedic perspective to Stryker through his successful leadership roles in a broad range of enterprises, including a venture backed startup, middle market med tech and large cap multinationals. He is a proven leader who has demonstrated the ability to drive profitable growth through innovation and we are delighted to have David join our executive team at Stryker," said Mr. Lobo. Mr. Floyd has successfully managed global businesses through unprecedented industry change while maintaining strong company, regulatory and customer relationships.
Mr. Floyd joins Stryker after 25 years in the medical technology and orthopaedics industry where he held a number of senior level leadership roles at DePuy, a division of Johnson and Johnson, Abbott Spine, AxioMed Spine, Centerpulse Orthopaedics and most recently as Chief Executive Officer for OrthoWorx.
Stryker also announced management realignment, effective January 1, 2013. Mr. Floyd will also take on responsibility for Stryker's Spine division, and Timothy J. Scannell will assume responsibility for Stryker's Neurotechnology businesses, including the Neurovascular division and Craniomaxillofacial business. As Group President of MedSurg and Neurotechnology, Mr. Scannell will continue to report to Mr. Lobo and maintain responsibilities for the Instruments, Medical, Endoscopy, and Sustainability Solutions divisions.
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 the Company's 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 the Company's products; pricing pressures generally, including cost-containment measures that could adversely affect the price of or demand for the Company's 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; changes in reimbursement levels from third-party payors; a significant increase in product liability claims; resolution of tax audits; changes in financial markets; changes in the competitive environment; the Company's ability to integrate acquisitions; and the Company's ability to realize anticipated cost savings as a result of workforce reductions and other restructuring activities. Additional information concerning these and other factors are contained in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
Stryker is one of the world's leading medical technology companies and is dedicated to helping healthcare professionals perform their jobs more efficiently while enhancing patient care. The Company offers a diverse array of innovative medical technologies, including reconstructive, medical and surgical, and neurotechnology and spine products to help people lead more active and more satisfying lives. For more information about Stryker, please visit www.stryker.com.
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