Zimmer Biomet Announces Chief Financial Officer Transition Plan

Zimmer Biomet Holdings Inc., a global leader in musculoskeletal healthcare, announced today that Daniel P. Florin will be retiring as executive vice president and chief financial officer of the company, effective July 1, 2019. Suketu (Suky) Upadhyay has been appointed to succeed Mr. Florin. To ensure a smooth and successful transition, and to assist in executing several ongoing cross-functional financial and operational initiatives, Mr. Florin will continue with the company in an advisory capacity for a period following the succession.
 
Bryan C. Hanson, president and CEO of Zimmer Biomet commented, “Dan Florin has been my right hand since I joined Zimmer Biomet. He is an outstanding leader and has made significant contributions to Zimmer Biomet over his 12 years with the company. As we have worked together tirelessly to reshape the organization over the last 18 months, I have been impressed by, and grateful for, his leadership, as well as his advice and counsel to me personally. Dan has been a true partner and I can’t thank him enough for the work he has done to help position our company for greater levels of growth and value creation in the future. I look forward to continuing to work with him on several critical projects during this transition period.”
 
“It has been a privilege to be a part of the Zimmer Biomet family, and I am very proud of our achievements,” shared Mr. Florin. “The company is on a solid path given the team’s progress in accelerating the business and re-establishing the company as a trusted partner within the industry. With the progress we have made over the past 18 months, I have decided that this is the right time for me to retire so I can focus on priorities outside of my professional career, and spend more time with my family. I look forward to my next chapter, just as I look forward to the company’s continued success.”  
 
Mr. Florin’s successor, Mr. Upadhyay, is a seasoned healthcare executive with more than two decades of senior financial leadership experience in corporate finance and accounting roles. Mr. Upadhyay currently serves as senior vice president, Global Financial Operations of Bristol-Myers Squibb. In this role, he has driven strategic and operational initiatives across Bristol-Myers Squibb’s supply chain, commercial operations, and R&D resulting in improved resource allocation for growth, reduced costs, and margin improvement. Prior to that, he served as executive vice president, chief financial officer at Endo International, where he was responsible for all finance functions, investor relations, procurement, and information technology. In addition, Mr. Upadhyay previously held leadership positions at Becton Dickinson & Company as controller and chief accounting officer and as interim chief financial officer. He has also held leadership roles with Johnson & Johnson and AstraZeneca. He started his career with KPMG and has held the designations of certified public accountant and certified management accountant.
 
Mr. Hanson continued, “We are pleased to welcome a leader of Suky’s caliber to Zimmer Biomet. He brings extensive leadership experience, financial acumen, knowledge of the healthcare space, and deep expertise with multinational organizations that will be beneficial for Zimmer Biomet. We are confident that Suky is the right person to be our next chief financial officer and look forward to his contributions as we continue to transition to offense and position ourselves to deliver significant value to shareholders.”
 
“I am excited to join Zimmer Biomet at this important time in the company’s transformation,” said Mr. Upadhyay. “I was attracted to Zimmer Biomet because of the company’s significant opportunity to leverage its differentiated ecosystem of customer-centric solutions to help accelerate growth and provide true value to customers and patients. I look forward to working with Bryan and the rest of the leadership team to strive to further enhance the company’s financial and operational performance, and position Zimmer Biomet for continued success.”