STRYKER CORPORATION (NYSE:SYK) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersITEM 5.02
DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
Lonny J. Carpenter notified Stryker Corporation (the “Company”) on April 2, 2018, of his intention to retire from his role as Group President, Global Quality and Business Operations effective April 30, 2018. The Company has announced that Viju Menon will be joining the Company as Group President, Global Quality and Business Operations effective April 30, 2018.
Mr. Carpenter has entered into a letter agreement with the Company to which he will continue to be employed as Group President and Advisor to the Company’s Chief Executive Officer from April 30, 2018 through March 31, 2019 to ensure a smooth transition. Under the terms of the letter agreement, Mr. Carpenter will continue to receive base salary at his current annual rate and will be eligible for an incentive bonus opportunity.
The summary description of the letter agreement with Mr. Carpenter contained in this Form 8-K is not complete and is qualified in its entirety by, and should be read in conjunction with, the complete text of such agreement filed as Exhibit 10.1 to this Form 8-K and incorporated herein by reference.
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ITEM 9.01 |
FINANCIAL STATEMENTS AND EXHIBITS |
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(d) |
Exhibits |
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Letter Agreement between Stryker Corporation and Lonny Carpenter |
STRYKER CORP ExhibitEX-10.1 2 sykex1014318.htm EXHIBIT 10.1 Exhibit Exhibit 10.1Katy FinkVice President,…To view the full exhibit click here
About STRYKER CORPORATION (NYSE:SYK)
Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties. The Company’s Neurotechnology and Spine segment products consist of both neurosurgical and neurovascular devices. The Company’s products are sold in approximately 100 countries through the Company-owned sales subsidiaries and branches, as well as third-party dealers and distributors.
