Aug 18 (Reuters) – GE HealthCare said on Tuesday it had appointed William Grogan chief financial officer, effective September 14, succeeding Jay Saccaro after he stepped down last month.
• Grogan joins GE HealthCare from water pump maker Xylem, where he served as the finance chief from 2023. He also held finance positions at IDEX Corporation, pharmacy operator Walgreens and industrial products firm Crane Co.
• Grogan’s track record of improving profitability, simplifying operations and integrating acquisitions aligns well with GE HealthCare’s priorities, said RBC Capital Markets analysts.
• Interim CFO George Newcomb will continue as controller and chief accounting officer, GE HealthCare said.
• The U.S. healthcare industry has seen several finance leadership shuffles this year, including at Pfizer, Amgen, Centene and Baxter.
• GE HealthCare’s personnel change comes weeks after it beat second-quarter Street estimates and maintained its annual profit forecast.
• CEO Peter Arduini said in July the company was weighing selling its patient care unit. It faced profitability and supply issues.
• Separately, Xylem said it has appointed Andrea van der Berg as its finance chief.
• Shares of the Chicago-based medtech firm are down over 11% this year.
(Reporting by Padmanabhan Ananthan in Bengaluru; Editing by Joyjeet Das)
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