Stryker elects Giovanni Caforio to Board of Directors

Rhea-AI Summary

Stryker (NYSE:SYK) has elected Giovanni Caforio, M.D., Chairman and CEO of Bristol Myers Squibb, to its Board of Directors, effective December 1, 2020. Kevin Lobo, CEO of Stryker, highlighted Dr. Caforio's extensive experience as a physician and business leader, emphasizing his contributions to patient-focused innovations. Dr. Caforio brings significant expertise in biopharmaceuticals, having led Bristol Myers Squibb since 2015, including the notable acquisition of Celgene. Stryker aims to enhance healthcare through innovative medical solutions.

Positive

• Appointment of Giovanni Caforio to the Board may introduce fresh perspectives.
• Dr. Caforio's extensive experience in biopharmaceuticals could strengthen Stryker's leadership.

Negative

• None.

Kalamazoo, Michigan, Nov. 09, 2020 (GLOBE NEWSWIRE) -- Stryker (NYSE:SYK) announced today that Giovanni Caforio, M.D., Chairman and Chief Executive Officer of Bristol Myers Squibb, has been elected to its Board of Directors, effective December 1, 2020. 

“Giovanni adds extensive experience to our board as both a physician and business leader,” said Kevin Lobo, Chairman and Chief Executive Officer, Stryker. “As CEO of a leading global biopharmaceutical company, he has advanced scientific innovation that has helped improve the lives of patients. We look forward to welcoming Giovanni to our board.”

Dr. Caforio has been CEO of Bristol Myers Squibb since May 2015 and assumed the role of Chairman of the Board in May 2017. As CEO, Dr. Caforio has led the company’s focus on researching and developing transformational medicines, which includes leading portfolios in oncology, hematology, immunology and cardiovascular disease. In 2019, he oversaw the acquisition of Celgene. Dr. Caforio joined Bristol Myers Squibb in 2000 and with his background as a physician has helped to strengthen the company’s patient-focused culture. Prior to that, he spent 12 years with Abbott Laboratories in a number of leadership positions. Dr. Caforio is the Chairman of the Pharmaceutical Research and Manufacturers of America (PhRMA), a trade association representing pharmaceutical companies in the United States.

“I am honored to join the Board of Directors for Stryker, a company with an impressive track record as a pioneer and leader in the medical technology space,” said Dr. Caforio. I am inspired by the company’s mission to make healthcare better and its focus on improving patient outcomes.”

Stryker is one of the world’s leading medical technology companies and, together with its customers, is driven to make healthcare better. The company offers innovative products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine that help improve patient and hospital outcomes. More information is available at www.stryker.com.

Contacts

For investor inquiries please contact:
Preston Wells, Vice President, Investor Relations at 269-385-2600 or preston.wells@stryker.com 

For media inquiries please contact:
Yin Becker, Vice President, Communications, Public Affairs and Corporate Marketing at 269-385-2600 or yin.becker@stryker.com

FAQ

Who is Giovanni Caforio and what role will he play at Stryker?

Giovanni Caforio, M.D., is the newly elected Board member at Stryker, bringing extensive experience from his role as Chairman and CEO of Bristol Myers Squibb.

When does Giovanni Caforio officially join the Board of Directors of Stryker?

Giovanni Caforio will officially join the Board of Directors of Stryker on December 1, 2020.

What experience does Giovanni Caforio have that benefits Stryker?

Giovanni Caforio has significant experience in the biopharmaceutical industry, leading Bristol Myers Squibb and focusing on research and development of transformational medicines.

How might Dr. Caforio’s appointment impact Stryker’s future?

Dr. Caforio’s appointment is expected to bring valuable insights and leadership in innovative healthcare solutions, potentially enhancing Stryker's growth strategy.