UK's Smith+Nephew CFO John Rogers to step down for external role

Aug 19 (Reuters) - Smith+Nephew said on Wednesday its finance chief John Rogers would step down at the end of September to take up an external position in the United States, ending his roughly two-and-a-half-year tenure with the medical products company.

Here are some more details:

• The departure follows Smith+Nephew's decision weeks ago to cut its annual revenue growth forecast after second-quarter sales missed expectations due to weak U.S. knee and hip implant demand and pressure on skin substitute pricing.

• Smith+Nephew said it had appointed Senior Vice President Finance and Group Controller Pierre Palassian as interim chief financial officer until a permanent replacement was appointed.

• Palassian, who joined Smith+Nephew in 2017, previously held senior roles at AbbVie and Abbott Laboratories.

• Rogers, who took up the CFO role in early 2024, had relocated to the United States in 2025 for operational efficiencies.

• Shares in the FTSE 100 company have gained nearly 14% during Rogers' tenure as CFO.

• Smith+Nephew said Rogers would receive no severance payment, and that his outstanding incentive and share awards would lapse on September 30 under leaver rules.

(Reporting by Neeshita Beura in Bengaluru; Editing by Subhranshu Sahu)