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Smith & Nephew Shares Drop as CFO John Rogers Announces Departure
• Smith & Nephew shares fell 3.5% to 1,071.84p following the immediate board departure of CFO John Rogers.
• Rogers will officially leave the FTSE 100 medtech firm on 30 September to take a new position in the United States.
• The company has initiated a search for a successor, appointing Pierre Palassian as interim CFO in the meantime.
Shares in Smith & Nephew PLC fell sharply in early trading on Wednesday, declining 3.5% to 1,071.84p, following the announcement that Chief Financial Officer John Rogers has stepped down from the board with immediate effect. The medical technology giant confirmed Rogers will formally depart his role on 30 September to pursue a new position in the United States, prompting an immediate search for his permanent successor.
The departure of the finance chief arrives shortly after the company’s recent first-half results and concludes a three-year tenure during which he played a key role in executing strategic financial initiatives. Chief Executive Deepak Nath acknowledged Rogers' contributions, stating he had been instrumental in delivering the firm’s 12-Point Plan, improving financial performance, and developing the ongoing RISE corporate strategy.
To ensure continuity, Smith & Nephew has appointed Pierre Palassian as interim Chief Financial Officer. Palassian, a senior vice president of finance and group controller, brings extensive internal experience, having joined the company in 2017 and led finance functions across global operations, R&D, wound management, and sports medicine divisions. His prior senior roles at healthcare giants AbbVie and Abbott Laboratories further bolster the interim appointment as the board conducts its external search for a new financial lead.