Stryker Corp said in a filing that Kevin Lobo, the company's Chief Executive Officer since October 2012, has been appointed Executive Chair effective January 1, 2027.
The appointment letter, signed by Lead Independent Director Sherilyn S. McCoy on October 5, 2026, and accepted by Lobo the same day, lays out the compensation terms of his new role.
Lobo's annualized base salary will remain $1,550,000 and his annualized bonus target will remain $2,325,000, equal to 150% of his base salary.
As Executive Chair, Lobo will not be eligible to receive any new stock awards. His compensation will otherwise continue to be governed by the company's applicable policies, terms, and conditions, and he will remain eligible to participate in Stryker's employee benefit plans and programs.
The letter notes that other provisions of Lobo's employment relationship with Stryker will continue in effect, including adherence to Stryker's Code of Conduct, its Employee Handbook, and the Confidentiality, Intellectual Property, Non-Competition and Non-Solicitation Agreement he previously signed. The letter also acknowledges Stryker's at-will employment relationship with Lobo.
McCoy thanked Lobo on behalf of the Board for his leadership and contributions since becoming Chief Executive Officer in October 2012.
$SYKStrykerPrice$285.34 ▲3.57%Net sentiment+0.05Bullish44%Mentions · 30d9Samplen=9Avg volume163,591View on the dashboardFinazon · prior-day close, indicative (IEX-derived, not the official close) · Oct 5, 2026