- Push-out Score determined
- After about a year and a half in the position
- Praise and thanks for Nawana
- Roland Diggelmann taking over
- Nawana kept it short and said 40 words
(exechange) — Watford, United Kingdom, October 21, 2019 — Namal Nawana, chief executive of Smith & Nephew, leaves — “by mutual agreement.” As announced by Smith & Nephew Plc in a news release on Monday, October 21, 2019, Namal Nawana leaves his post as Chief Executive Officer at the medical equipment manufacturing company after about a year and a half in the role, effective October 31, 2019.
Namal Nawana’s duties as CEO will be taken over by Roland Diggelmann, most recently Chief Executive Officer of Roche Diagnostics.
Already a director
Diggelmann is already a director of Smith & Nephew. Generally speaking, most director-turned-CEO appointments occur following a sudden resignation of the outgoing CEO and signal a lack of preparedness on the company’s part to groom internal talent. On the other hand, directors-turned-executives represent a blend of outsider and insider.
Having been a director, Diggelmann understands the expectations and dynamics of the board and has knowledge of Smith & Nephew’s organization, risk-management practices and strategy.
“To pursue other opportunities outside of the UK”
Namal Nawana’s departure from the CEO post is explained as follows. Smith & Nephew said: “Namal Nawana will step down from the Board and his position as Chief Executive Officer (CEO) by mutual agreement on 31 October 2019 to pursue other opportunities outside of the UK.”
Precise information regarding Namal Nawana’s future plans was not immediately available.
Share price increase since May 2018
The announcement follows an increase in Smith & Nephew Plc’s share price of 40% since May 2018.
In the position of CEO since 2018
Namal Nawana became CEO of the Company in May 2018.
Namal Nawana joined the Board and was appointed Chief Executive Officer in May 2018. Namal Nawana is based in Andover, US.
Prior to Smith+Nephew Namal Nawana was Chief Executive Officer and a member of the Board of Medical Diagnostics Company Alere Inc, until its $8 billion acquisition by Abbott in 2017.
Before joining Alere, Namal Nawana spent more than 15 years at Johnson & Johnson in progressively senior leadership roles globally including the role of Worldwide President of Johnson & Johnson’s multi-billion dollar spine franchise, DePuy Synthes Spine.
In addition to his role as CEO of Smith+Nephew, Namal Nawana is also a member of the Board of Directors of Hologic, Inc. a Nasdaq listed company and Advamed (Advanced Medical Technology Association).
Namal Nawana holds an undergraduate degree in Mechanical Engineering and a Masters degree in Medical Science from the University of Adelaide, South Australia, as well as an MBA from Henley Management College.
He is a global leader with broad experience in healthcare and medical technology.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Smith & Nephew and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 43.2019 ($).