Australian hearing implants company Cochlear has promoted its head of North American operations, Chris Smith, to be its next chief executive.
According to the ASX Announcement, Mr Smith will take over the CEO position from the current CEO Chris Roberts who is set to depart at the end of August, after spending nearly 12 years with the company.
Mr Smith is currently in Denver, Colorado and will relocate to Cochlear’s head office in Sydney to take up his new role as Deputy CEO on 1 July.
“Cochlear is an extraordinary company with a proud history. Through the development and distribution of our innovative technology and passion and commitment of our employees, we are able to have a positive impact on many people’s lives every day,” said Mr Smith.
“Dr Roberts leaves Cochlear with the Board’s best wishes and thanks. He has done a remarkable job in the more than 11 years as CEO; trebling cochlear implant unit sales and revenues and quadrupling net profit and the share price. His commitment to innovation has helped maintain Cochlear as global market leader. Over the last two years, Cochlear has released a comprehensive range of new products and services across its portfolio,” said Cochlear Limited Chairman, Rick Holliday Smith.
Mr Smith will spend two months as deputy CEO under Dr Roberts before taking charge in his own right.
“It is time to hand over the leadership baton. I have worked closely with Mr Smith for more than a decade. I know that he has a deep commitment to the company, our people and our recipients and healthcare professional partners. It has been a privilege to lead this great global company for over a decade, and to work with so many talented people. In that time, Cochlear has been able to help hundreds of thousands of people hear. The company is ideally placed to grow and continue bringing the gift of hearing to many more people around the world,” said Dr Roberts.