Mr. Illingworth has led the company since 2007 and oversaw a period of rising sales and improving margins. Olivier Bohuon, former chief executive of Pierre Fabre SA and former executive of Abbott Laboratories, will replace Mr. Illingworth.
Mr. Illingworth’s decision to retire was personal, according to the report, and unrelated to the renewed takeover speculation. Both Johnson & Johnson and Biomet have been rumored as potential buyers of the company.
Read the Wall Street Journal report on Smith & Nephew.
Read other coverage on Smith & Nephew:
– Smith & Nephew: Potential Buyers Would Pay $15.6B
– Smith & Nephew CEO Speaks About Orthopedic Device Environment
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