Smith and Nephew announces planned retirement of CEO

Smith and Nephew has announced that its chief executive officer (CEO) Olivier Bohuon will be leaving the company in the next year.

Mr Bohuon has notified the board of his intention to retire by the end of 2018, having occupied the CEO role for seven years. The search for a successor has now commenced, with Mr Bohuon to continue in his position in the meantime.

Since he joined the company in 2011, the CEO has been credited with improving Smith and Nephew's focus and efficiency, thus helping to generate additional value for shareholders.

He has chosen to announce his retirement plans as early as possible in order to give the board ample time to identify a successor and ensure a smooth transition. Until then, he will continue to focus on generating a solid 2017 performance and positioning the organisation for future success.

Roberto Quarta, chairman of Smith and Nephew, said: "As Smith and Nephew enters its next chapter, the board is determined to build on this to deliver accelerating growth, improved efficiency and further value for shareholders."

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