Name: Anne-Françoise Nesmes
Previous title: Chief financial officer, Smith+Nephew
Anne-Françoise Nesmes plans to step down as chief financial officer at Smith+Nephew in the second quarter of 2024. Smith+Nephew has begun an external search for a replacement, the company said on Thursday.
Nesmes joined the medtech company in July 2020 and led the financial side of the business through a period in which it contended with the pandemic, supply chain problems and the weakness of its orthopedic business. Now, with the company halfway through its 12-point turnaround plan, the CFO has set the date for her departure from the company.
Smith+Nephew CEO Deepak Nath discussed Nesmes’ upcoming exit on a second-quarter results conference call, telling investors that he understands “why she feels that as we make our progress with the transformation of Smith+Nephew, now is the right time for her personally to reflect upon what she wants to do” and outlining her impact on the business.
“It’s hard to encapsulate the impact that Anne-Francoise has made on Smith+Nephew during her time as CFO,” Nath said. “She was instrumental in us navigating the financial challenges in the pandemic, and in laying the foundation for the 12-point plan.”
Smith+Nephew has begun looking for Nesmes’ successor. Nath told investors that he is “grateful that she has given us ample time, far-far more than she was required to for us to identify a successor and ensure a smooth transition, and it is good that we will have her for the next few quarters.”
Nath shared news of Nesmes’ planned departure alongside the company’s second-quarter results. The company raised its revenue growth forecast for the full year to a 6% to 7% increase, up a from 5% to 6% increase previously. Nath attributed the step-up in guidance to the company’s ability to take advantage of a favorable environment.
“There is, of course, a market tailwind, and that’s primarily an orthopedics factor. We expect to be able to better take advantage of that. We have not always been able to take advantage of that. It's fundamentally around commercial execution that underpins that confidence and that step-up in growth in the second half of the year,” Nath said.