Stryker names COO Spencer Stiles CEO effective Jan. 1, 2027; Kevin Lobo moves to Executive Chair
STRYKER CORP
Spencer Stiles, President and COO since January 2026, becomes CEO and a Board member on January 1, 2027; Kevin Lobo, CEO since October 2012, becomes Executive Chair.
Stiles's CEO base salary rises to $1,320,000 with annual bonus target at 150% of salary; February 2027 equity award targeted at $14,200,000 fair value (40% options, 60% PSUs).
Lobo's salary, bonus target and benefit eligibility stay unchanged as Executive Chair, but he gets no new stock awards; Transition Agreement signed October 5, 2026.
Lobo's tenure: net sales tripled from $8.7B in 2012 to more than $26B in 2026, with 60+ acquisitions including Mako, Wright Medical, Vocera and Inari; organic growth 4% to 10%.
Board expanded from 10 to 11 members with Stiles's appointment; Lead Independent Director Sheri McCoy calls it the culmination of long-term succession planning.
In connection with Mr. Stiles’s appointment as CEO, the Board also increased the size of the Board from 10 to 11 and appointed Mr. Stiles to serve as a member of the Board, effective January 1, 2027.
and that Spencer S. Stiles, who currently serves as President and Chief Operating Officer of the Company, has been appointed CEO of the Company, effective January 1, 2027.
Stryker Corporation (the “Company”) announced on October 6, 2026 that Kevin A. Lobo will resign from his role as Chief Executive Officer (“CEO”) of the Company on December 31, 2026 and transition to the role of Executive Chair of the Board of Directors of the Company (the “Board”), effective January 1, 2027 (the “CEO Transition”)
On October 5, 2026, the Company entered into a letter agreement with Mr. Lobo (the “Transition Agreement”), pursuant to which (1) he will continue to serve as CEO of the Company through December 31, 2026, and (2) as of January 1, 2027, he will begin serving as Executive Chair of the Board.
Key facts
Extracted from this filing and checked against the source text.
Executive changeSEC 8-K Item 5.02confidence 0.95
Spencer S. Stiles was appointed as Director at STRYKER CORP.
Action
appointed
Role
Director
Exact text from the filing
In connection with Mr. Stiles’s appointment as CEO, the Board also increased the size of the Board from 10 to 11 and appointed Mr. Stiles to serve as a member of the Board, effective January 1, 2027.
Spencer S. Stiles was appointed as Chief Executive Officer at STRYKER CORP.
Action
appointed
Role
Chief Executive Officer
Exact text from the filing
and that Spencer S. Stiles, who currently serves as President and Chief Operating Officer of the Company, has been appointed CEO of the Company, effective January 1, 2027.
Kevin A. Lobo resigned as Chief Executive Officer at STRYKER CORP.
Action
resigned
Role
Chief Executive Officer
Exact text from the filing
Stryker Corporation (the “Company”) announced on October 6, 2026 that Kevin A. Lobo will resign from his role as Chief Executive Officer (“CEO”) of the Company on December 31, 2026 and transition to the role of Executive Chair of the Board of Directors of the Company (the “Board”), effective January 1, 2027 (the “CEO Transition”)
Kevin A. Lobo changed role as Executive Chair of the Board at STRYKER CORP.
Action
transitioned
Role
Executive Chair of the Board
Exact text from the filing
On October 5, 2026, the Company entered into a letter agreement with Mr. Lobo (the “Transition Agreement”), pursuant to which (1) he will continue to serve as CEO of the Company through December 31, 2026, and (2) as of January 1, 2027, he will begin serving as Executive Chair of the Board.
This headline and bullets were generated automatically by deepseek-v4.1-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.