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RNS Number : 3667M
Smith & Nephew Plc
14 September 2023
Appointment of Non-Executive Directors and Confirmation of
Chair
14 September 2023
Smith+Nephew (LSE: SN, NYSE: SNN), the global medical technology
company , announces the following Board appointments.
The Company is pleased to announce that Jeremy (Jez) Maiden and
Simon Lowth will be joining the Board as independent Non-Executive
Directors. Jez joins today and will serve as a member of the Audit
Committee and Remuneration Committee. Simon will join on 1 January
2024 and will serve as a member of the Audit Committee and
Nomination & Governance Committee.
Additionally, Rupert Soames will, as planned, assume the role as
Chair of the Board on 15 September, in succession to Roberto
Quarta. Rupert has also been appointed as Chair of the Nomination
& Governance Committee and will continue to serve on the
Remuneration Committee.
Jez Maiden has extensive global financial experience across a
diverse range of industries and sectors. He retired earlier this
year as Group Finance Director at Croda International, the FTSE-100
global speciality chemicals company, and before that held similar
roles at National Express Group and Northern Foods. He is currently
Senior Independent Director at Travis Perkins plc and a
Non-Executive Director and member of the Audit Committee at
Intertek Group plc. P reviously, he served as the Senior
Independent Director at Synthomer and at both PZ Cussons and
Synthomer he chaired the Audit Committee and served on the
Remuneration Committee . He is a fellow of the Chartered Institute
of Management Accountants.
Simon Lowth has deep experience in finance, accounting, risk,
corporate strategy as well as mergers and acquisitions. He
currently serves as Group Chief Financial officer of BT Group, a
role he has held since 2016 and previously performed the same role
at BG Group, AstraZeneca and Scottish Power. Before joining
Scottish Power, he led the Industrial Practice of McKinsey in the
UK and has a background in engineering . He previously served as a
Non-Executive Director on the Board of Standard Chartered. He
currently holds no additional external appointments.
Rupert Soames commented:
"We are delighted to be able to announce two such strong
appointments to our Board. Simon and Jez bring deep executive and
non-executive experience of serving on boards of companies which
have had to address strategic and operational challenges across a
number of different industries, including life-sciences and
healthcare. They both have experience of supervising large
operations in the US, Europe and Asia and of working in
highly-regulated industries.
"Simon brings a wealth of expertise across a wide range of
sectors, including within regulated industries. Having served as
the CFO in four FTSE-100 companies, including AstraZeneca and,
currently, BT, he has deep experience of capital markets,
implementing strategic change, cost transformation and performance
improvement programmes as well as understanding how technology can
be used to transform a business, all of which will be very helpful
to the Board.
"Jez brings more than 15 years of experience both as a FTSE
Chief Financial Officer and as a Non-Executive Director in
businesses involved in manufacturing, science and technology and
will be a valuable addition to the Board and its Committees.
"Finally, I want to pay tribute to my predecessor Roberto Quarta
who has delivered great service to the Company since taking over as
Chair of Smith & Nephew in 2014. He has shown immense diligence
and skill leading the Board and helping to navigate the company
through challenging times; my colleagues on the Board and across
the business are grateful for his leadership and commitment."
No 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 the two new appointments. In line with current Non-Executive
Directors, Jez Maiden and Simon Lowth will each be paid annual fees
of GBP69,500, of which GBP6,500 will be paid in Smith+Nephew
shares.
Enquiries
Investors / Analysts
Andrew Swift
Smith+Nephew +44 (0) 1923 477433
Media
Charles Reynolds
Smith+Nephew +44 (0) 1923 477314
Susan Gilchrist / Ayesha Bharmal
Brunswick +44 (0) 20 7404 5959
About Smith+Nephew
Smith+Nephew is a portfolio medical technology business that
exists to restore people's bodies and their self-belief by using
technology to take the limits off living. We call this purpose
'Life Unlimited'. Our 19,000 employees deliver this mission every
day, making a difference to patients' lives through the excellence
of our product portfolio, and the invention and application of new
technologies across our three global franchises of Orthopaedics,
Advanced Wound Management and Sports Medicine & ENT.
Founded in Hull, UK, in 1856, we now operate in more than 100
countries, and generated annual sales of $5.2 billion in 2022.
Smith+Nephew is a constituent of the FTSE100 (LSE:SN, NYSE:SNN).
The terms 'Group' and 'Smith+Nephew' are used to refer to Smith
& Nephew plc and its consolidated subsidiaries, unless the
context requires otherwise.
For more information about Smith+Nephew, please visit
www.smith-nephew.com and follow us on X , LinkedIn , Instagram or
Facebook .
Forward-looking Statements
This document may contain forward-looking statements that may or
may not prove accurate. For example, statements regarding expected
revenue growth and trading profit margins, market trends and our
product pipeline are forward-looking statements. Phrases such as
"aim", "plan", "intend", "anticipate", "well-placed", "believe",
"estimate", "expect", "target", "consider" and similar expressions
are generally intended to identify forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause actual
results to differ materially from what is expressed or implied by
the statements. For Smith+Nephew, these factors include: risks
related to the impact of Covid, such as the depth and longevity of
its impact, government actions and other restrictive measures taken
in response, material delays and cancellations of elective
procedures, reduced procedure capacity at medical facilities,
restricted access for sales representatives to medical facilities,
or our ability to execute business continuity plans as a result of
Covid; economic and financial conditions in the markets we serve,
especially those affecting healthcare providers, payers and
customers (including, without limitation, as a result of Covid);
price levels for established and innovative medical devices;
developments in medical technology; regulatory approvals,
reimbursement decisions or other government actions; product
defects or recalls or other problems with quality management
systems or failure to comply with related regulations; litigation
relating to patent or other claims; legal and financial compliance
risks and related investigative, remedial or enforcement actions;
disruption to our supply chain or operations or those of our
suppliers (including, without limitation, as a result of Covid);
competition for qualified personnel; strategic actions, including
acquisitions and disposals, our success in performing due
diligence, valuing and integrating acquired businesses; disruption
that may result from transactions or other changes we make in our
business plans or organisation to adapt to market developments;
relationships with healthcare professionals; reliance on
information technology and cybersecurity; disruptions due to
natural disasters, weather and climate change related events;
changes in customer and other stakeholder sustainability
expectations; changes in taxation regulations; effects of foreign
exchange volatility; and numerous other matters that affect us or
our markets, including those of a political, economic, business,
competitive or reputational nature. Please refer to the documents
that Smith+Nephew has filed with the U.S. Securities and Exchange
Commission under the U.S. Securities Exchange Act of 1934, as
amended, including Smith+Nephew's most recent annual report on Form
20-F, which is available on the SEC's website at www. sec.gov, for
a discussion of certain of these factors. Any forward-looking
statement is based on information available to Smith+Nephew as of
the date of the statement. All written or oral forward-looking
statements attributable to Smith+Nephew are qualified by this
caution. Smith+Nephew does not undertake any obligation to update
or revise any forward-looking statement to reflect any change in
circumstances or in Smith+Nephew's expectations.
Trademark of Smith+Nephew. Certain marks registered in US Patent
and Trademark Office.
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