Nath, who was previously president of diagnostics at Siemens Healthineers will take the reins from April.
On Tuesday, Smith & Nephew named a new CEO, Deepak Nath to succeed Roland Diggelmann from 01st April. Diggelmann will leave the FTSE 100 company on 31st March "by mutual agreement," according to the company. Nath joins the company from Siemens Healthineers where he was President of the Diagnostics business segment responsible for $6 billion of sales and 15,000 employees. He formerly worked for Abbott, Amgen, McKinsey & Company, and the Lawrence Livermore National Laboratory as a scientist. Smith & Nephew's new CEO was announced as the company's fourth-quarter revenues fell short of analysts' estimates, with sales in its orthopaedics division affected by global supply chain disruption. The company's revenue of $1.35 billion fell short of analysts' expectations of $1.36 billion.
Roberto Quarta, chair of Smith & Nephew, said Nath was joining at an “inflection point” for the business and would bring his “drive, experience and expertise” to the company. Adding that, “Deepak is a highly experienced leader with a track record of significant improvement in operations and execution at a major global healthcare business”. "Smith & Nephew is a great company with innovation at its core and a purpose of Life Unlimited, supporting patients around the world in returning to a healthy and fulfilled life. I am honoured to have been given the opportunity to lead the business. I look forward to building on Smith & Nephew's rich history and heritage and working with the team to take it to the next level of growth.", said Nath.