ISH medical devices group Smith & Nephew picked veteran industrialist Roberto Quarta as its new chairman yesterday as it posted five per cent higher quarterly sales, boosted by strong demand for wound care products.
Quarta, an Italian-American businessman now based in Britain, will join as a non-executive director on 4 December and is slated to become chairman from next April, replacing John Buchanan who is stepping down after nine years.
Smith & Nephew has been trailing rivals like Johnson & Johnson, Zimmer and Stryker in orthopaedic reconstruction due to a relative lack of new products.
But chief executive Olivier Bohuon said the joint implant business was now improving, following increased investment.
The group posted revenue of $1.03bn (£640m) and adjusted earnings per share of 17.1 cents in the third quarter, while trading profit rose 10 per cent to $222m.