New Cochlear CEO appointed

Chris Smith has been announced as the incoming CEO and president of Cochlear Limited (ASX:COH). He will become the company’s deputy CEO from 1 July and relocate to Sydney to take up the CEO position as of 1 September.

Smith is currently the president of Cochlear North America, senior vice president of Cochlear Bone Anchored Solutions and senior vice president of Global Support Operations. He was deemed by the Cochlear board to have a deep understanding of the company, its customers and hearing healthcare professionals.

Smith will replace Dr Chris Roberts, who has held the position for over 11 years. Cochlear Chairman Rick Holliday-Smith said Dr Roberts has done “a remarkable job” as the company’s CEO, “trebling cochlear implant unit sales and revenues and quadrupling net profit and the share price”.

“It is time to hand over the leadership baton,” said Dr Roberts. “I have worked closely with Mr Smith for more than a decade. I know that he has a deep commitment to the company, our people and our recipients and healthcare professional partners.”

Cochlear (ASX:COH) shares were trading 1.052% higher at $88.38 as of around 2.30 pm on Tuesday.