Name: Christina Zamarro
New title: CFO, DePuy Synthes
Previous title: CFO, Goodyear Tire & Rubber Company
DePuy Synthes has appointed Christina Zamarro as CFO ahead of its planned separation from Johnson & Johnson.
Zamarro has spent nearly 20 years at Goodyear Tire & Rubber Company and became CFO at the start of 2023. Zamarro will take over the role effective July 13.
J&J committed to spinning out the DePuy Synthes orthopedics business in October. In April, J&J said it was continuing “to explore multiple paths to effect the planned separation” and targeting a completion date 18 to 24 months after the initial announcement.
J&J tasked Namal Nawana, worldwide president of DePuy Synthes, with leading the standalone orthopedics business.
Hiring Zamarro fills another key role in DePuy Synthes’ leadership team. The new hire lacks a medtech background but has experience overseeing the restructuring of large organizations.
Zamarro “brings deep experience managing global and complex transformation programs,” Nawana said in a statement.
Goodyear unveiled a transformation plan 11 months into Zamarro’s time as CFO. Under the plan, Goodyear sold three businesses for a combined $2.2 billion and cut annual costs by about $1.5 billion.
J&J’s orthopedics sales grew 6.3% year over year to $2.38 billion in the first quarter. Orthopedic growth was primarily driven by “new product launches and strong commercial execution,” Darren Snellgrove, then vice president of investor relations, said on an earnings call in April.
J&J recorded $119 million in costs related to the orthopedics spinoff in the first quarter. The company restructured the orthopedics business in 2023, streamlining operations by exiting some markets, product lines and distribution network arrangements.
