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Smith+Nephew calls rare bluff over CEO pay

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Smith+Nephew CEO Namal Nawana wanted a higher salary to run the UK artificial joint maker. The board said no. Although shares have done well since Nawana joined 17 months ago, he should have negotiated harder at the start, writes edwardcropley:

Smith+Nephew said on Oct. 21 that Chief Executive Namal Nawana was stepping down after just 17 months on the job.

The artificial joint maker said Nawana would be replaced by former Roche Diagnostics head Roland Diggelmann. Shares in Smith+Nephew were down 7.1% by 0825 GMT at 16.99 pounds, their lowest level in more than three months.

 

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