Cooper Companies CEO White steps down; board member Rosebrough named executive chair
Cooper Companies CEO White steps down; board member Rosebrough named executive chair Oct 27 (Reuters) - Cooper Companies COO.O said on Tuesday CEO Al White had stepped down, effective immediately, and board member Walt Rosebrough was elected executive chair as the medical device maker begins a search for a new CEO.
Shares of the California-based company fell nearly 3% in extended trading.
Rosebrough, an independent director who joined the board in January and is the former CEO of STERIS STE.N, will oversee day-to-day operations until a permanent chief executive is appointed
Rosebrough said recent performance "has not met our expectations" and warranted decisive action by the board
White, who is also leaving the board, will remain with the company as a strategic adviser through April 2027
Additionally, Shlomi Nachman, a former Johnson & Johnson JNJ.N executive with experience in medical devices and vision care, will join the board as an independent director, effective December 8, Cooper said
Three current board members, Barbara Carbone, Colleen Jay and Robert Weiss, will not stand for re-election at the company's 2027 annual shareholder meeting, it added
The company reaffirmed its fiscal 2026 forecast issued on September 9, including annual adjusted earnings of $4.51 to $4.55 per share
(Reporting by Siddhi Mahatole in Bengaluru; Editing by Shreya Biswas)
((siddhi.mahatole@thomsonreuters.com;))