Olivier Bohuon announces retirement from Smith & Nephew

Medical technology business Smith & Nephew announced on Monday that Olivier Bohuon has notified the board of his intention to retire by the end of 2018, after seven years as chief executive officer.

The FTSE 100 company’s board said it was now beginning a search for a successor.

In the meantime, Bohuon would continue to lead Smith & Nephew and drive the company's growth initiatives and operating plans.

“Since I joined the company in 2011, we have transformed Smith & Nephew into a more focused, efficient and innovative business and I am proud of the value we have created for all of our stakeholders,” Bohuon said.

“Looking ahead to the next long-term phase of growth, I have decided to announce my retirement plans now, providing ample time to identify a successor and ensure a smooth transition.

“I am committed to leading the company in the meantime, as we remain resolutely focused on delivering a solid performance in 2017, while positioning the company for further success in the future.”

Chairman Roberto Quarta thanked Bohuon on behalf of the board for his “professional and personal” commitment and dedication to Smith & Nephew during his tenure as CEO.

“Under Olivier's leadership Smith & Nephew has undergone important and necessary change and is now a stronger company,” Quarta said.

“As Smith & Nephew enters its next chapter, the board is determined to build on this to deliver accelerating growth, improved efficiency and further value for shareholders.”