Stryker Corporation 8-K
CEO/CFO changeLeadership change
President and COO Spencer Stiles will succeed Kevin Lobo as CEO in January 2027; Lobo moves to Executive Chair.
Filed 2026-10-06 08:08 ET
- 5.02 Officer/director change
- 7.01 Regulation FD Disclosure
- 9.01 Financial Statements and Exhibits
Summary
Planned CEO succession, effective 1/1/2027. Kevin Lobo will leave the CEO role on 12/31/2026 and become Executive Chair; current President and COO Spencer Stiles will succeed him and join the Board. The Board will expand from 10 to 11 directors. Stiles has spent 27 years at Stryker; Lobo’s 14-year CEO tenure saw annual net sales grow from $8.7B in 2012 to more than $26B in 2026.
Key Figures
- Stiles’s CEO compensation, effective 1/1/2027: $1.32M annual base salary and a target bonus of 150% of base salary.
- A recommendation will be made for independent directors to approve a February 2027 stock award with $14.2M aggregate target grant-date fair value: 40% stock options and 60% performance stock units. Options vest in equal annual installments over five years; performance stock units are subject to three-year performance goals.
- Lobo’s base salary, bonus target and benefit-plan eligibility will remain unchanged as Executive Chair; he will not receive new stock awards in that role.
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