REG - Smith & Nephew Plc - Directorate Change

Smith & NephewAnnouncement

17/02/2023 07:00

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RNS Number : 2162Q  Smith & Nephew Plc  17 February 2023

 

Smith+Nephew announces Rupert Soames as Chair Designate

17 February 2023

 

Smith+Nephew (LSE: SN, NYSE: SNN), the global medical technology company (the
Company), is pleased to announce that Rupert Soames OBE will succeed Roberto
Quarta as Chair of the Company. Mr Quarta has reached the end of his tenure
and will retire as Chair and Non-Executive Director in 2023.

Mr Soames will be appointed as an Independent Non-Executive Director at the
Company's Annual General Meeting on 26 April 2023, subject to shareholder
approval, and will succeed Mr Quarta as Chair with effect from 15 September
2023. Mr Quarta has agreed to continue as Chair to ensure a smooth transition
and will put himself forward for re-election as a Non-Executive Director on 26
April 2023 on this basis.

Mr Soames has extensive global leadership experience in both executive and
non-executive roles. Most recently he served as Chief Executive Officer of
Serco Group plc, the global outsourced services provider, between 2014 and
2022 where he led the successful turnaround. He was Chief Executive of Aggreko
plc, the support services company (2003-2014) and also served as a
Non-Executive Independent Director at both DS Smith, the sustainable packaging
business (2019-2022) and support services company Electrocomponents plc
(2007-2016) (now RS Group). On joining the Board, Mr Soames will be appointed
to the Nomination & Governance Committee and the Remuneration Committee.

Marc Owen, Senior Independent Director, who along with the Nomination &
Governance Committee led the Chair search process, commented:

"The Board conducted an extensive search for a new Chair and we are delighted
to welcome Rupert to the Board. We believe that Rupert's extensive track
record of value creation in global companies and deep understanding of
corporate governance will help Deepak Nath and his team deliver on their
existing plans to grow the business and to improve its operational
performance. I would like to thank Roberto for his unwavering commitment and
support to the Board and for his contribution and service to the Company
during his tenure."

 

Rupert Soames said:

"Smith+Nephew is a leader in the medical technology sector with a 167-year
history of supporting patients to return to health. I am honoured to be the
next Chair of the Board, and look forward to working with Deepak, the
Smith+Nephew organisation and the Board to deliver on Smith+Nephew's great
potential."

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.

 

Enquiries

 

 Investors / Analysts

 Andrew Swift                      +44 (0) 1923 477433

Smith+Nephew

 Media

 Charles Reynolds                  +44 (0) 1923 477314

Smith+Nephew

 Susan Gilchrist / Ayesha Bharmal  +44 (0) 20 7404 5959

Brunswick

 

About Smith+Nephew

 

Smith+Nephew is a portfolio medical technology company 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 18,000 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, Sports Medicine & ENT and Advanced Wound Management.

Founded in Hull, UK, in 1856, we now operate in more than 100 countries, and
generated annual sales of $5.2 billion in 2021. 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
(http://www.smith-nephew.com/) and follow us on Twitter
(http://www.twitter.com/smithnephewplc) , LinkedIn
(http://www.linkedin.com/company/smith-%26-nephew) , Instagram
(https://www.instagram.com/smithnephewmeded/)  or Facebook
(http://www.facebook.com/smithnephewplc) .

 

 

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 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
health care 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
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
dispositions, 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; 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, 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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