U.K.-based Smith & Nephew PLC said CEO Namal Nawana will step down Oct. 31 to pursue other opportunities outside the U.K.
The company named non-executive director Roland Diggelmann CEO effective Nov. 1.
Nawana, who joined Smith & Nephew in May 2018, will continue to be employed by the company to provide assistance and advice to Diggelmann until Dec. 31 to ensure a smooth transition.
Diggelmann joined Smith & Nephew as non-executive director in March 2018. Prior to that, he spent 11 years at Roche Diagnostics and was CEO of the company. He also spent 12 years in the orthopedics sector before joining Roche Diagnostics.
Diggelmann will cease to be a non-executive director and step down from the audit committee and culture and compliance committee of Smith & Nephew's board with immediate effect.