Smith & Nephew plc Loses CFO to Burberry
Published: Jul 13, 2016
11 July 2016
Smith & Nephew plc (LSE:SN, NYSE:SNN), the global medical technology business, today announces that Julie Brown, Chief Financial Officer, will be leaving the Company in January 2017 to join Burberry Group plc (BRBY.L) as Chief Operating and Financial Officer. The search for a successor to Julie is underway, and a further announcement will be made in due course.
Olivier Bohuon, Chief Executive Officer said:
“Julie has made a significant contribution to the transformation of Smith & Nephew over the last three and half years, building and embedding stronger finance capabilities across the Company. The Group Optimisation programme has driven greater efficiency and her Capital Allocation Framework has effectively and transparently prioritised the use of cash. I would like to thank her on behalf of the Company, and personally for her valuable support and insight. We wish her well in the next stage of her career.”
Julie Brown, Chief Financial Officer, commented:
“I am immensely proud of my time at Smith & Nephew and what we have achieved together. We have made significant progress with Group Optimisation and the Finance Transformation and delivered significant shareholder value. I look forward to joining the Board of Burberry and pursuing a new opportunity in my career. It has been an honour to work with Olivier, from whom I have learnt a great deal, and I wish him and everyone at Smith & Nephew all the best for the future.”
Smith & Nephew
+44 (0) 20 7960 2285
Smith & Nephew
+44 (0) 20 7401 7646
Matthew Cole / Debbie Scott
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About Smith & Nephew
Smith & Nephew is a global medical technology business dedicated to helping healthcare professionals improve people's lives. With leadership positions in Orthopaedic Reconstruction, Advanced Wound Management, Sports Medicine and Trauma & Extremities, Smith & Nephew has around 15,000 employees and a presence in more than 100 countries. Annual sales in 2015 were more than $4.6 billion. Smith & Nephew is a member of the FTSE100 (LSE:SN, NYSE:SNN).
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: economic and financial conditions in the markets we serve, especially those affecting health care providers, payers and customers; 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; 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.
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