Stryker veteran Spencer Stiles will take up the chief executive role as its former CEO Kevin Lobo will move into the boardroom.
Stryker announced that, as part of a planned succession process, Lobo will become Executive Chair of the Board of Directors, effective Jan. 1 next year.
Stiles, currently President and Chief Operating Officer of Stryker, will succeed Lobo as CEO and will also be appointed as a member of the company’s Board.
Lobo joined the company in 2011 as Group President, became CEO in October 2012 and was appointed Chair of the Board in July 2014.
Lobo expanded Stryker’s portfolio and global presence and tripled annual net sales from $8.7 billion in 2012 to more than $26 billion in 2026 during his 14-year tenure as CEO, according to Stryker.
“Serving as CEO of Stryker has been an incredible honor, and I am proud of all that our teams have accomplished together on behalf of our customers and the patients they serve,” said Lobo in a statement.
“The Board and I have worked closely on a succession plan, and with our strong foundation in place, now is the right time for this leadership transition. Having worked alongside Spencer for many years, I have seen firsthand the qualities that define his leadership: his ability to set a clear direction, inspire people and translate strategy into strong execution.”
The transition follows a challenging year for the company, which suffered a debilitating cyberattack in March from the pro-Iran group Handala Hack in retaliation for the U.S. and Israeli strikes on the country.
But while the attack caused operational disruptions and a negative financial impact in Q1, the company has maintained an organic sales-growth outlook of 8.3%–9.3% and acquired Amplitude Vascular Systems in May.
“I am honored to be named Stryker’s next CEO and grateful to the Board and Kevin for their trust in me,” said Stiles in a release.
“I have a deep appreciation for our people, our culture and the customer relationships that drive our innovation and growth. Kevin has built an extraordinary legacy and a strong foundation for the future, which I am excited to build upon as we continue executing our strategy, driving growth and advancing our mission to make healthcare better.”
Stiles’ tenure at Stryker spans nearly three decades. Since joining the company’s Endoscopy business in 1999, he has held leadership roles across nearly every Stryker business, spanning Orthopaedics, MedSurg and Neurotechnology, before becoming President and Chief Operating Officer in January 2026.