Friday, October 30, 2009

JB to Step Down as Chairman of the Board at Stryker!

The Stryker Corporation announced today, that effective December 31st, 2009, John Brown will step down as Chairman of the Board. JB had an illustrious career as President and CEO spanning twenty-five solid years. Unfortunately, all good things must come to pass. TSB believes that this is an opportune moment to step down considering what awaits Stryker when the government gets through with their OP-1 faux pas!

JB did have some tremendous accomplishments during his stellar career. There was the acquisition of Osteonics (the HA Hip), DIMSO the French company which led to Stryker's foray into the spine market, Osteo which allowed them to venture into the trauma market leading to the acquisition of Howmedica, and OP-1 from Curis, originally known as Creative Biomolecules. If anything, OP-1 will be the albatross that hangs around his neck considering what they paid for the exclusive rights and eventual outright purchase. It would be interesting to find out what the "ROI" has been on that investment. Regardless, Stryker has always had cash and clout in the market by bundling products at the cheapest price to beat their competition.

But the world does change, as do financial markets, as will the healthcare industry, and its better to step down and smell the roses of one's success rather than sit in those board meetings and listen to a whole new generation tackling a whole new world. Besides at his age its time to enjoy other more important things in life than Stryker! Kudos to a stellar career!

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