Stryker CFO Glenn S. Boehnlein will retire, succeeded by Preston Wells on April 1, 2025.
Quiver AI Summary
Stryker announced the upcoming retirement of Glenn S. Boehnlein from his position as Vice President and Chief Financial Officer, effective April 1, 2025, after a notable 22-year career with the company. Preston Wells, currently the Group CFO for Stryker’s Orthopaedics Group, will take over the CFO role. Kevin A. Lobo, Stryker's Chair and CEO, praised Boehnlein for his leadership and contributions to the company, highlighting his role in developing talent like Wells. Wells has extensive experience at Stryker, having held various finance positions and led key financial initiatives. Prior to joining Stryker, he had 17 years of experience in finance roles at Dialight Corporation and Johnson & Johnson.
Potential Positives
- Announcement of Preston Wells' promotion to Chief Financial Officer underscores the company's commitment to internal talent development and continuity in leadership.
- Glenn S. Boehnlein's retirement after 22 years highlights the stability and long-term growth of leadership within Stryker.
- Kevin A. Lobo's confidence in Wells, expressed through a supportive message, indicates strong organizational trust and positive company culture.
Potential Negatives
- Glenn S. Boehnlein's retirement as CFO after 22 years may raise concerns about leadership continuity and potential challenges in transitioning to a new financial strategy under Preston Wells.
- There may be uncertainties regarding how the change in CFO will impact Stryker's financial performance and strategic direction, given the significance of the CFO role in a major corporation.
- The announcement does not provide details on the reasons behind Boehnlein's retirement, which could lead to speculation or concerns among investors and stakeholders regarding the company's internal dynamics.
FAQ
Who is the new CFO of Stryker?
Preston Wells will be the new Vice President and Chief Financial Officer at Stryker, effective April 1, 2025.
What was Glenn S. Boehnlein's role at Stryker?
Glenn S. Boehnlein served as the Vice President and Chief Financial Officer at Stryker for 22 years.
How long did Glenn S. Boehnlein work at Stryker?
Boehnlein had an impressive 22-year career at Stryker before his retirement announcement.
What is Preston Wells' experience before becoming CFO?
Preston Wells has held various finance roles at Stryker and has over 17 years of prior financial management experience.
What industries does Stryker operate in?
Stryker operates in the medical technologies industry, focusing on MedSurg, Neurotechnology, and Orthopaedics sectors.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SYK Insider Trading Activity
$SYK insiders have traded $SYK stock on the open market 36 times in the past 6 months. Of those trades, 0 have been purchases and 36 have been sales.
Here’s a breakdown of recent trading of $SYK stock by insiders over the last 6 months:
- RONDA E STRYKER has made 0 purchases and 18 sales selling 420,000 shares for an estimated $145,952,138.
- KEVIN LOBO (Chair and CEO) has made 0 purchases and 3 sales selling 57,313 shares for an estimated $21,131,479.
- GLENN S BOEHNLEIN (VP, Chief Financial Officer) sold 20,000 shares for an estimated $6,660,000
- M KATHRYN FINK (VP, Chief HR Officer) has made 0 purchases and 12 sales selling 9,468 shares for an estimated $3,480,956.
- VIJU MENON (Group President) sold 600 shares for an estimated $213,000
- SPENCER S STILES (Group President) sold 514 shares for an estimated $201,056
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$SYK Hedge Fund Activity
We have seen 921 institutional investors add shares of $SYK stock to their portfolio, and 794 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- PARNASSUS INVESTMENTS, LLC added 2,111,493 shares (+inf%) to their portfolio in Q3 2024, for an estimated $762,797,961
- WELLINGTON MANAGEMENT GROUP LLP removed 1,141,140 shares (-10.2%) from their portfolio in Q3 2024, for an estimated $412,248,236
- WINSLOW CAPITAL MANAGEMENT, LLC added 1,060,231 shares (+inf%) to their portfolio in Q3 2024, for an estimated $383,019,051
- BLUESPRUCE INVESTMENTS, LP added 1,016,431 shares (+69051.0%) to their portfolio in Q3 2024, for an estimated $367,195,863
- INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC removed 851,186 shares (-99.7%) from their portfolio in Q4 2024, for an estimated $306,469,519
- MACKENZIE FINANCIAL CORP added 846,976 shares (+241.6%) to their portfolio in Q3 2024, for an estimated $305,978,549
- BLACKROCK, INC. added 820,758 shares (+3.1%) to their portfolio in Q3 2024, for an estimated $296,507,035
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
Portage, Michigan, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Stryker (NYSE: SYK) announced today that Glenn S. Boehnlein will retire from his role as Vice President, Chief Financial Officer. Boehnlein’s decision follows an impressive 22-year career at Stryker. Preston Wells, who currently serves as Group CFO for Stryker’s Orthopaedics Group, will assume the role of Vice President, Chief Financial Officer effective April 1, 2025.
“I want to thank Glenn for his performance drive, strong business partnership, and excellent leadership of the Finance and IT organizations. Glenn is a growth champion who invested in developing talent, including Preston Wells, who has been promoted to Chief Financial Officer,” stated Kevin A. Lobo, Chair and Chief Executive Officer, Stryker. “I am confident in Preston’s ability to help Stryker continue to deliver strong results."
Wells has held various finance roles at Stryker. In his current role, he collaborates with the Joint Replacement, Trauma & Extremities, Spine, and Digital, Robotics, and Enabling Technologies teams to deliver market leading growth, while providing financial and strategic leadership across the Orthopaedics Group. Previously, Wells led Investor Relations, Enterprise Financial Planning & Analysis, and the sales finance and sales operations teams that supported Stryker’s Spine business.
Before Stryker, Wells had 17 years of senior accounting and financial management experience, holding finance leadership roles at Dialight Corporation and Johnson & Johnson. He graduated from Bucknell University with a bachelor's in accounting and earned an MBA in Supply Chain Management from Lehigh University.
About Stryker
Stryker is a global leader in medical technologies and, together with our customers, we are driven to make healthcare better. We offer innovative products and services in MedSurg, Neurotechnology and Orthopaedics that help improve patient and healthcare outcomes. Alongside our customers around the world, we impact more than 150 million patients annually. More information is available at www.stryker.com .
Contacts
For investor inquiries please contact:
Jason Beach, Vice President, Finance and Investor Relations at 269-385-2600 or
[email protected]
For media inquiries please contact:
Yin Becker, Vice President, Chief Corporate Affairs Officer at 269-385-2600 or
[email protected]
