Smith & Nephew turns attention to emerging economies to counteract tough European market (The Independent)
Olivier Bohuon, the new CEO of the FTSE 100 medical technology giant Smith & Nephew, will announce plans to grow the business in emerging markets next month.
Mr Bohuon has been reviewing Smith & Nephew's strategy since he succeeded Dave Illingworth in April. It is understood that he wants to stamp his mark on the group by emphasising sales opportunities in fast-growing countries, such as China, where the group has a small presence relative to its other operations.
An industry source said Mr Bohuon is likely to provide details at the company's first-half results announcement on 5 August.
Management has previously hinted at a slight refocus at an analysts' presentation in May. Smith & Nephew pointed out that government austerity measures meant that the European market remained tough, while China and India grew strongly, "albeit from a low base".
Mr Bohuon would be keen to offer investors a clear vision for the future of Smith & Nephew, as the artificial hip and knee-maker has long had to fend off rumours of its being a takeover target for US rivals...
