Summary
This 8-K filing from Stryker Corporation (SYK) on August 19, 2011, primarily reports a key executive transition within the company's international division. Andrew G. Fox-Smith, Group President, International, has announced his resignation effective September 1, 2011, to pursue other career opportunities. He will transition to an advisory role until March 1, 2012, maintaining his current compensation and benefits, and will receive an additional $350,000 payment in 2012.
Key Highlights
- 1Resignation of Andrew G. Fox-Smith as Group President, International, effective September 1, 2011.
- 2Mr. Fox-Smith will serve in an advisory capacity until March 1, 2012.
- 3Mr. Fox-Smith to continue receiving current compensation and benefits during advisory period.
- 4Additional payment of $350,000 to be made to Mr. Fox-Smith in two installments during 2012.
- 5Appointment of Ramesh Subrahmanian as the new Group President, International, announced on August 18, 2011.
- 6The appointment was detailed in a press release filed as an exhibit to the 8-K.
Frequently Asked Questions
Mr. Fox-Smith is resigning to pursue other career opportunities.
His resignation is effective September 1, 2011.
Yes, he will remain an employee in an advisory capacity until March 1, 2012.
Ramesh Subrahmanian has been appointed to the role.
Yes, Mr. Fox-Smith will continue to receive his current compensation and benefits during his advisory period and will receive an additional payment of $350,000 in two installments during 2012.