Stryker Seeks CEO After MacMillan’s Resignation for Family (press release)
Stryker Corp. Chief Executive Officer Stephen MacMillan led the company’s expansion efforts and helped the maker of artificial hips and knees navigate an industrywide probe before his resignation yesterday for family reasons.
Curt Hartman, the chief financial officer, will serve as interim CEO while Stryker searches for a permanent successor to MacMillan, 48, who also served as board chairman and president, the Kalamazoo, Michigan-based device maker said in a statement. William Parfet, the board’s lead independent director, was named the nonexecutive chairman.
MacMillan, who joined Stryker in 2003, took over as chief executive officer on Jan. 1, 2005. Under his leadership, Stryker acquired at least a dozen companies, including three in the past year, adding medical implants and surgical products to grow revenue, said Joanne Wuensch, an analyst with BMO Capital Markets in New York.
“He initiated the diversification practices,” Wuensch said in an interview. “He’s been at the forefront of saying, ‘How do I take this company and move it into a very different orthopedic market?’”
MacMillan also guided Stryker ...
