Stryker taps insider Stiles to succeed industry veteran Lobo as CEO

Johnson & Johnson

06/10/2026 14:36

Oct 6 (Reuters) - US medical device maker Stryker SYK.N on Tuesday said it has appointed insider Spencer Stiles as its chief executive officer effective January 1, 2027, replacing Kevin Lobo, who has held the top post for 14 years.
Shares of the company were down 1.7% in morning trading. 
Here are some details:
Stiles has been at Stryker for nearly three decades, according to the company, starting in its endoscopy unit in 1999 and holding leadership roles in almost every one of its businesses since
Stiles became president and chief operating officer of Stryker in January 2026
The move comes a month after Stryker executives warned manufacturing challenges would linger through the second half of the year, while flagging weakness in hip and knee replacement procedures
Stryker was also affected by a cyberattack in March, for which Iranian hacking group Handala claimed credit 
Kevin Lobo will become executive chair of the board, said the Portage, Michigan-based company, adding that the leadership transition was part of a planned succession process
Stryker makes surgical equipment, joint implants and devices used to treat brain and blood vessel conditions
Among Stryker's chief rivals are Johnson & Johnson JNJ.N and Zimmer Biomet ZBH.N in the orthopedics market
Stryker completed more than 60 acquisitions under Lobo, including the roughly $4.9 billion acquisition of Inari Medical in 2025, the purchase of bone implant maker Wright Medical for about $4 billion in 2020, and its deal for Amplitude Vascular Systems this year
J.P. Morgan analyst Robbie Marcus described Stiles as a highly capable operator with strong investor relationships, who was well equipped to succeed in the new role

(Reporting by Padmanabhan Ananthan in Bengaluru; Editing by Jonathan Ananda)
((padmanabhan.ananthan@thomsonreuters.com))