Current Chairman and CEO Robert Yates to Step Down as CEO
RARITAN, N.J., Aug. 27, 2019 /PRNewswire/ -- Ortho Clinical Diagnostics, a global leader of in vitro diagnostics, today announced that its board of directors has appointed Chris Smith as Chief Executive Officer effective September 9, 2019. Chris will succeed Robert Yates who is stepping down as CEO. Mr. Yates will continue to serve as Ortho's non-Executive Chairman as a member of the board of directors.
"I am delighted to lead Ortho as its next CEO," said Mr. Smith. "This is an exciting time for the company and I am thrilled to have the opportunity to work with such a talented group of professionals around the world. I look forward to building upon Ortho's rich history of customer-focused innovation while taking the business to its next chapter of growth as a global diagnostics leader."
"It has been an honor to serve as Ortho's CEO," said Mr. Yates. "Ortho is strongly positioned for sustainable and predictable growth, with more efficient operations and talented next-generation leaders. I am excited that we were able to recruit Chris who brings the executive leadership, experience and capabilities to continue Ortho's transformation and value creation."
Stephen Wise, Managing Director and Global Head of Healthcare for The Carlyle Group, which invested in Ortho Clinical Diagnostics in 2014, said, "We are thrilled to welcome Chris as Ortho's next CEO. Chris brings over 30 years of healthcare sector experience and has a proven track record driving value creation for multinational businesses. We look forward to a long-term partnership with Chris that we believe will create significant value for Ortho."
Mr. Wise continued, "We are grateful to Robert for his significant contribution to Ortho's success through his strong leadership in recommitting the entire organization to predictable growth and operational efficiencies. His continued guidance as non-Executive Chairman of the board of directors will ensure a seamless transition for Ortho."
In addition to serving as Ortho's non-Executive Chairman, Mr. Yates will continue to serve as a senior advisor to The Carlyle Group.
Mr. Smith brings a wealth of leadership and operating experience to Ortho. He most recently served as the CEO of Cochlear Limited, a publicly-traded global medical device company headquartered in Australia, from 2015 through 2018. Under his leadership, Cochlear Limited reached annual sales in excess of AU$ 1 billion dollars while the market cap of the company more than doubled to over AU$ 10 billion dollars (US$ 7.5 billion). Mr. Smith also served as the President of Cochlear Americas for more than a decade. Prior to Cochlear, Mr. Smith held several senior executive roles including CEO in Residence for Warburg Pincus and Global Group President of Gyrus Group Plc., a surgical products company.
Mr. Smith currently serves on the board of directors of several companies including Results Physiotherapy, Nyxoah and Akouos, and was a senior external advisor for McKinsey & Co., AngelMD and EQT Partners. He previously served on the board of directors of publicly-listed Xtent Inc. as well as Startek Inc., Universal Biosensors, Gyrus Group Plc, and Acclarent Inc. Mr. Smith holds a Bachelor of Science degree from Texas A&M University.
About Ortho Clinical Diagnostics
Ortho Clinical Diagnostics is a global leader of in vitro diagnostics serving the global clinical laboratory and immunohematology communities. Across hospitals, hospital networks, blood banks, and labs in more than 125 countries and territories, Ortho's high-quality products and services enable health care professionals to make better-informed treatment decisions. Ortho brings sophisticated testing technologies, automation, and information management and interpretation tools to clinical laboratories around the world to help them run more efficiently and effectively and improve patient care. For the immunohematology community, Ortho's blood typing products help ensure every patient receives blood that is safe, the right type and the right unit. Ortho's purpose is to improve and save lives with diagnostics, and it does that by reimagining what's possible. This is what has defined Ortho for more than 75 years, and it's what drives Ortho forward. For more information, visit www.orthoclinicaldiagnostics.com.
© Ortho Clinical Diagnostics 2019
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