Smith & Nephew Says It Rejected CEO Pick, Not J&J Deal.
Photo: TokenPost
People familiar with the negotiations said discussions between Smith & Nephew and J&J to combine their orthopedics businesses ended over a CEO dispute, with the proposal valuing J&J’s hip and knee unit at up to $22 billion. J&J’s preferred leader was DePuy Synthes chief Namal Nawana, who previously led Smith & Nephew, while Smith & Nephew backed its CEO, Deepak Nath, for the top job, people familiar with the talks said. Smith & Nephew’s email said the company rejected the proposed appointment of a chief executive, ‘not the deal.’ The statement did not say whether negotiations continued or resumed.
Source: TokenPost
