Chief Operating Officer Ivan Tornos Appointed
President and CEO; Elected to the Board of Directors
Chief Financial Officer Suketu (Suky) Upadhyay's Role Expands
to CFO and EVP, Finance, Operations & Supply Chain
Company Reaffirms Full-Year 2023 Financial
Guidance
WARSAW,
Ind., Aug. 22, 2023 /PRNewswire/ -- Zimmer
Biomet Holdings, Inc. (NYSE and SIX: ZBH) today announced the
appointment of Ivan Tornos as President and Chief Executive Officer
(CEO) and election to the Board of Directors, effective
immediately. Mr. Tornos has most recently served as Chief Operating
Officer of Zimmer Biomet, a role he has held since early 2021. He
takes over as President and CEO from Bryan Hanson, who has
served as the Company's President and CEO since late 2017 and
Chairman since 2021, and is departing to take on another CEO
role.
Suketu (Suky) Upadhyay, who
joined Zimmer Biomet in 2019 as Executive Vice President (EVP) and
Chief Financial Officer (CFO), is expanding his role to also
include full responsibility for overseeing the Company's global
Operations and Supply Chain functions. Additionally, current Lead
Independent Director Christopher
Begley takes on the role of Chairman of the Board, effective
today.
The Company is reaffirming its full-year 2023 financial guidance
as outlined in the second quarter financial results announced on
August 1, 2023.
"It is an honor to be appointed CEO of Zimmer Biomet at a time
when our execution is extremely strong and our innovation momentum
is at an all-time high," said Mr. Tornos. "I am grateful for
Bryan's leadership in transforming the Company and am now looking
forward to leading the team and accelerating our ZB strategy to
drive continued growth and boldly advance the standard of
musculoskeletal care."
Mr. Tornos joined Zimmer Biomet in November 2018 as
Group President, Orthopedics and a year later
was named Group President, Global Businesses and the
Americas. He was appointed Chief Operating Officer in March 2021 with responsibility for overseeing all
global businesses at Zimmer Biomet, as well as leading the global
operations, clinical and medical education and global R&D and
New Product Development functions. In this role, he had
oversight of the Americas and the Europe, Middle
East and Africa (EMEA) regions.
Prior to joining Zimmer Biomet, Mr. Tornos served as Worldwide
President of the Global Urology, Medical and Critical Care Division
of Becton, Dickinson and Company. Earlier, he was with C.R. Bard in
positions of increasing responsibility, most recently serving as
President, EMEA. Before joining C.R. Bard, Mr. Tornos served as
Vice President and General Manager of the Americas Pharmaceutical
and Medical/Imaging segments of Covidien International. He also
served as International Vice President, Business Development and
Strategy with Baxter International Inc., and prior to that he spent
over a decade in leadership assignments around the globe with
Johnson & Johnson. Mr. Tornos currently serves as an
independent member of the Board of Directors of global healthcare
company PHC Holdings Corporation.
"Ivan has consistently delivered strong results since joining
Zimmer Biomet. His deep expertise in the medtech sector, commercial
prowess and proven leadership experience make him the ideal leader
for Zimmer Biomet as we move into our next phase of innovation and
growth," said Mr. Begley. "As a Board of Directors, we are
extremely pleased with the strength of the Company's succession
planning efforts, the depth of the management team and Ivan's
appointment. On behalf of the entire Board, I thank Bryan for
his tremendous service to the organization and his role in
establishing the Company as a leading player in the medtech
space."
Today it was announced that Mr. Hanson will be assuming the role
of CEO of the healthcare spinoff of 3M. During his tenure at Zimmer Biomet, he
spearheaded the Company's transformation, reshaping the mission,
culture, corporate strategy, quality, compliance, operations and
market performance. Mr. Hanson also successfully orchestrated the
spinoff of the Company's Spine and Dental franchises to an
independent company, ZimVie Inc.
"The last five and a half years at the helm of Zimmer Biomet
have been transformational, not just for the Company, but for me,
as well," said Mr. Hanson. "I have the utmost confidence in Ivan,
the entire ZB team and the strength of the business. I cannot think
of a better leader to continue to move the ZB mission forward and
deliver value for patients, customers and shareholders."
About Zimmer Biomet
Zimmer Biomet is a global medical technology leader
with a comprehensive portfolio designed to maximize mobility and
improve health. We seamlessly transform the patient experience
through our innovative products and suite of integrated digital and
robotic technologies that leverage data, data analytics and
artificial intelligence.
With 90+ years of trusted leadership and proven expertise,
Zimmer Biomet is positioned to deliver the highest quality
solutions to patients and providers. Our legacy continues to
come to life today through our progressive culture of evolution and
innovation.
For more information about our product portfolio, our operations
in 25+ countries and sales in 100+ countries or about joining our
team, visit www.zimmerbiomet.com or follow Zimmer Biomet
on Twitter at www.twitter.com/zimmerbiomet.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains
forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by the use of
forward-looking terms such as "may," "will," "expects," "believes,"
"aims," "anticipates," "plans," "looking forward to," "estimates,"
"projects," "assumes," "guides," "targets," "forecasts,"
"continue," "seeks" or the negatives of such terms or other
variations on such terms or comparable terminology. Forward-looking
statements include, but are not limited to, statements concerning
the Company's financial guidance, forecasts, expectations, plans,
intentions, strategies, prospects, business plans and other
statements that are not historical facts. Such statements are based
upon the current beliefs and expectations of management and are
subject to significant risks and uncertainties that could cause
actual outcomes and results to differ materially. Some of these
risks and uncertainties can be found in Zimmer Biomet's Annual
Report on Form 10-K for the year ended December 31, 2022 and subsequent periodic reports
filed with the Securities and Exchange Commission (SEC). Copies of
these filings are available online at
www.sec.gov, www.zimmerbiomet.com or
on request from the Company. These factors should not be construed
as exhaustive and should be read in conjunction with the other
cautionary statements that are included in the Company's filings
with the SEC. Such forward-looking statements speak only as of
the date made, and the Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Readers of this press release are cautioned not to place undue
reliance on these forward-looking statements, since there can be no
assurance that these forward-looking statements will prove to be
accurate. This cautionary statement is applicable to all
forward-looking statements contained in this press release.
Media
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Investors
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Meredith Weissman
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Keri Mattox
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(703)
346-3127
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(215)
275-2431
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meredith.weissman@zimmerbiomet.com
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keri.mattox@zimmerbiomet.com
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Heather Zoumas-Lubeski
(445) 248-0577
heather.zoumaslubeski@zimmerbiomet.com
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Zach Weiner
(908) 591-6955
zach.weiner@zimmerbiomet.com
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SOURCE Zimmer Biomet Holdings, Inc.