Global medtech announces new CFO as revenue rises

Global medical technology firm Smith+Nephew has announced the appointment of John Rogers, formerly of WPP, as its new chief financial officer, as it published a third quarter trading update showing an 8.5% increase in revenues.

The firm said its underlying revenue growth is now expected to be at the higher end of its guide range of 6-7% as its 12-point plan drives revenue growth., It predicts profit margins of around 17.5% reflecting headwinds from China.

Rogers will join Smith+Nephew as CFO-designate on 1 December and join the board in the first quarter of 2024. Current CFO Anne-Françoise Nesmes will remain to oversee the 2023 annual report and accounts.

Chief executive Deepak Nath said, “We saw strong growth in the third quarter, continuing the momentum from the first half of the year. Performance was broad-based, and I am particularly pleased by the step-up in Orthopaedics as we start to see the real impact from our improving execution under the 12-Point Plan.

“Our investment in innovation continues to bear fruit. During the quarter we saw the first surgery with our new AETOS◊ Shoulder System and launched our leading REGENETEN◊ Bioinductive Implant in India and Japan. We are gearing up for the imminent launch of our RENASYS◊ EDGE negative pressure wound therapy in the US.

“Overall, I am encouraged that our actions to transform Smith+Nephew to a consistently higher growth company are starting to deliver.”