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Posted 22 February, 2021

ZIMMER BIOMET HOLDINGS, INC. appointed new CEO

CEO Change detected for ticker NYSE:ZBH in a 8-K filed on 22 February, 2021.


  The Board, upon the recommendation of the Corporate Governance Committee, has appointed Bryan C. Hanson, the Company's Chief Executive Officer and a director, as the Chairman of the Board, effective on May 13, 2021, the day prior to the 2021 Annual Meeting.  

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Overview of ZIMMER BIOMET HOLDINGS, INC.
Health Care/Life Sciences • Medical Equipment/Supplies
Zimmer Biomet Holdings, Inc. engages in the design, manufacture, and marketing of orthopedic reconstructive products. The firm also offers sports medicine, biologics, extremities, and trauma products, spine, craniomaxillofacial, and thoracic products, office-based technologies, dental implants, and related surgical products. It operates through the following geographical segments: Americas, Europe Middle East and Africa, and Asia Pacific. The Americas segment consists of the U.S. and includes other North, Central and South American markets. The Europe Middle East and Africa segment includes France, Germany, Italy, Spain, and the United Kingdom. The Asia Pacific segment refers to the key markets such as Japan, China, Australia, New Zealand, Korea, Taiwan, India, Thailand, Singapore, Hong Kong, and Malaysia. The company was founded by Justin O. Zimmer in 1927 and is headquartered in Warsaw, IN.
Market Cap
$25.7B
View Company Details
ZIMMER BIOMET HOLDINGS, INC. by TradingView
Relevant filing section
Item 5.02 
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


On February 18, 2021, the Board of Directors (the "Board") of Zimmer Biomet Holdings, Inc. (the "Company"), upon the recommendation of the Corporate Governance Committee, increased the size of the Board from eleven members to twelve members and appointed Sreelakshmi Kolli to fill the resulting vacancy, with a term to expire at the Company's 2021 annual meeting of shareholders to be held on May 14, 2021 (the "2021 Annual Meeting"). Ms. Kolli has not been appointed to any committees of the Board at this time; however, the Company expects that Ms. Kolli will be appointed to the Audit Committee and the Quality, Regulatory and Technology Committee in the near future. There are no arrangements or understandings between Ms. Kolli and any other person pursuant to which Ms. Kolli was appointed a director of the Company, and Ms. Kolli has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. 

As a non-employee director, Ms. Kolli will participate in the non-employee director compensation arrangements described in the Company's definitive proxy statement filed with the Securities and Exchange Commission on March 25, 2020. In addition, it is expected that Ms. Kolli will execute the Company's standard form of non-employee director indemnification agreement. The form of the indemnification agreement was filed as Exhibit 10.1 to the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on July 31, 2008 and is incorporated herein by reference. 

Due to the Company's mandatory retirement policy, Larry C. Glasscock, the Company's Chairman of the Board, is not eligible for nomination by the Board for election as a director at the 2021 Annual Meeting and will retire from the Board. The Board, upon the recommendation of the Corporate Governance Committee, has appointed Bryan C. Hanson, the Company's Chief Executive Officer and a director, as the Chairman of the Board, effective on May 13, 2021, the day prior to the 2021 Annual Meeting. Additionally, Christopher B. Begley has been designated to serve as the Lead Independent Director of the Board, effective upon the commencement of Mr. Hanson's service as Chairman. 

On February 18, 2021, Gail K. Boudreaux, a member of the Board since 2012, informed the Board that she does not intend to stand for reelection at the 2021 Annual Meeting. Ms. Boudreaux's decision not to stand for reelection is not the result of any disagreement with the Company. Ms. Boudreaux will continue to serve as a director and as a member of each of the Audit Committee and the Corporate Governance Committee of the Board until her current term expires at the 2021 Annual Meeting. The Board has taken action to reduce its size to ten members effective upon the expiration of Mr. Glasscock's and Ms. Boudreaux's terms as directors.