Kevin Lobo has been named president and CEO of Kalamazoo-based Stryker Corp., effective immediately.
Update: Stryker's president and CEO brings 25-year career to top job.
KALAMAZOO, MI – Stryker Corp. has a new hand at the tiller: Its board of directors announced Monday that Kevin A. Lobo will be the Kalamazoo-based company's new president and chief executive officer, effective immediately.
Lobo, who was most recently group president of Stryker Orthopaedics and joined the company in April 2011, also was named to the company's board of directors.
"After a very thorough search process involving external and internal candidates, we are pleased to name Kevin Lobo as Stryker's president and chief executive officer. He is a talented executive with a broad range of global experience and he knows our company and industry extremely well," said William U. Parfet, nonexecutive chairman of the board, in a statement. "Since joining Stryker in 2011, he has proven to be a highly effective leader for our Orthopaedics Group, and he has won the confidence of employees, customers and the board. We are excited about Stryker's future under Kevin and believe our shareholders and all stakeholders will benefit from his leadership."
Before joining Stryker, Lobo was president of Johnson & Johnson's Medical Products Canada and president of Ethicon Endo-Surgery Inc., which is a $4 billion business.
Kevin A. Lobo
"Stryker is a company with a proud history and a bright future. Since joining the company last year, I have witnessed firsthand the commitment of our talented people as they work to enhance the lives of patients," said Lobo in a statement. "It's a privilege to have the opportunity to lead this great company, and I look forward to working with the board and our people throughout the organization to maximize our strengths, build on our leadership position and create value for shareholders."
Curt R. Hartman, who had been with Stryker for more than 20 years and had served as interim CEO since Stephen Macmillan's resignation in February of this year, has decided to leave the company, Stryker said in a press release. Hartman, who was also chief financial officer and vice president, agreed to stay on as an adviser to the CEO while the company searches for a permanent CFO.
"On behalf of the entire Board, I would like to thank Curt Hartman for his many contributions to Stryker. In particular we are grateful for his leadership as Interim CEO over the last eight months. He has served the company extremely well throughout his more than 20-year career, and time and again he has demonstrated his skill and commitment to the company's success," said Parfet.
Hartman grew the Instruments Division from $300 million to more than $1 billion while division president from 1999 to 2008. Beginning as CFO in 2008, he led the financial team through nine business acquisitions.
"This included being the operational executive responsible for the successful 2011 acquisition, integration and operational results of the Neurovascular business," said Parfet. "We wish him all the best."