30 November 2016
Smith & Nephew plc (LSE:SN, NYSE:SNN), the global medical technology business, today announces the appointment of Graham Baker as Chief Financial Officer. He will formally begin the role on 1 March 2017 when he will also be appointed to the Board as an Executive Director.
Graham joins from Alvogen, a fast-growing generic pharmaceuticals company, where he is Chief Financial Officer. Alvogen has 35 offices globally across US, Europe and Asia and is owned by the founder and major private equity firms led by CVC and Temasek.
Prior to Alvogen, Graham worked for AstraZeneca PLC for 20 years, holding multiple senior roles including, most recently, Vice President, Finance , International (2013-2015) with responsibility for all emerging markets, Vice President, Global Financial Services (2010-2013) and Vice President Finance & Chief Financial Officer, North America (2008-10).
Graham qualified as a Chartered Accountant and Chartered Tax Advisor with Arthur Andersen. He is a British national.
Olivier Bohuon, Chief Executive Smith & Nephew, commented:
“Graham’s blue-chip experience, deep sector knowledge and extensive exposure to established and emerging markets set him apart as the ideal next CFO for Smith & Nephew. He has a strong track record of delivering operational excellence and has relevant experience across major finance roles and geographic markets, leading large teams responsible for significant budgets. With his hands-on approach, I have no doubt that he will successfully ensure effective financial stewardship for Smith & Nephew.”
Graham Baker commented:
“It took a compelling opportunity to tempt me from Alvogen, but I could not ignore the potential of this role and the business at Smith & Nephew. I look forward to joining the Board and working with Olivier and his team to deliver further success in the business, as well as ensuring that the Finance function adds ever more value, as Smith & Nephew continues its transformation.”
No further disclosure obligations arise under paragraphs (1) to (6) of LR 9.6.13 R of the UK Listing Authority’s Listing Rules in respect of this appointment.
Mr Baker will be paid in accordance with the Remuneration Policy approved by shareholders in 2014, as set out in the Annual Report 2015. He will receive a base salary of £510,000 per annum and participate in the Annual Incentive Plan (cash and equity) and the Performance Share Plan. He will also receive a payment in lieu of pension and standard benefits as set out in the Annual Report. An updated Remuneration Policy will be put to shareholders for approval at the 2017 AGM and any future awards will be subject to performance conditions and measures in force at the time of the award. His notice period will be 6 months, 12 months from the Company. No additional payment will be made on recruitment.
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About Smith & Nephew
Smith & Nephew is a global medical technology business dedicated to helping healthcare professionals improve people’s lives. With leadership positions in Orthopaedic Reconstruction, Advanced Wound Management, Sports Medicine and Trauma & Extremities, Smith & Nephew has around 15,000 employees and a presence in more than 100 countries. Annual sales in 2015 were more than $4.6 billion. Smith & Nephew is a member of the FTSE100 (LSE:SN, NYSE:SNN).
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