Intuitive Surgical CEO Gary Guthart will step down after 15 years as head of the soft tissue robotic surgery leader. President Dave Rosa will become the new chief executive July 1, and Guthart will become executive chair of the board.
Guthart will remain with Intuitive as a senior adviser, the company said Thursday. Board Chair Craig Barratt was appointed lead independent director, a role he previously held.
“While the announcement was a surprise, we expect Mr. Rosa's track record to speak for itself and for the company to continue its focus on the DV5 launch and to maintain its growth trajectory,” Citi Research analyst Joanne Wuensch wrote in a note to clients Thursday.
Meanwhile, RBC Capital Markets analyst Shagun Singh said Rosa's promotion reflects his impact on the company's strategy, pipeline and expanding global footprint, and Guthart’s appointment as executive chair will ensure continued successful stewardship of the company —– one of medtech’s top performers.
“Gary Guthart has had a very successful leadership at Intuitive, making it a top-performing company in MedTech; thus, we are encouraged that he will continue to work closely with Dave Rosa to ensure a smooth transition,” Singh wrote in a note to investors shortly after the announcement.
Rosa has spent 29 years with Intuitive, joining the company as its ninth employee in March 1996. He was named president in 2023 and a board member in 2024.
He held leadership positions across the business before that, including in engineering, clinical and product development, marketing, regulatory and quality affairs. In 2019, Rosa was named executive vice president and chief business officer before moving to chief strategy and growth officer three years later.
Intuitive is in the midst of ramping its manufacturing operations to support the broad launch at midyear of its latest-generation robotic surgery system, the da Vinci 5.
An engineer by training and holder of multiple patents, Rosa is credited with founding Intuitive’s first clinical engineering and endoluminal groups, which led to the development of the da Vinci single-port robot and Ion bronchoscopy system. He also launched a group that identifies and develops new business opportunities.
As CEO, Rosa’s annual base salary will increase from $825,000 to $925,000, with a bonus opportunity for fiscal 2025 increased from 125% to 150% of the annualized base salary. Rosa also will receive restricted stock units valued at $4 million and performance stock units valued at $4 million under an incentive award plan, according to a securities filing.
“Having worked closely with Dave for decades,” Guthart said in a statement, “I am confident that his patients-first focus and deep capability in guiding Intuitive’s strategy, our designs, our product and service quality, and our operational excellence make him uniquely qualified to lead our business forward.”
