Smith and Nephew announces retirements of directors

Smith and Nephew has confirmed that Richard De Schutter and Ajay Piramal will be stepping down as non-executive directors after its 2014 annual general meeting.

The pair will be retiring from their current positions on the board at the conclusion of the meeting on April 10th 2014. Mr De Schutter will also relinquish his post as senior independent director, which will be taken up by Brian Larcombe.

Mr De Schutter has been credited with offering valuable guidance and counsel to the firm during a period of significant growth and change, while Mr Piramal has helped to guide the company's strategy as it expands its presence in emerging markets.

Sir John Buchanan, chairman of Smith and Nephew, said: "On behalf of the board and management at Smith and Nephew, I would like to thank both Richard and Ajay for their significant contributions to the business."

This comes after the firm moved to strengthen its global sports medicine business last week through the acquisition of fellow medical technology firm ArthroCare.