Stryker names Spencer Stiles CEO, succeeding Kevin Lobo on January 1, 2027
Lobo moves to Executive Chair as Stiles, the company's President and COO, steps up with a new pay package and a board seat
Published
Stryker said Kevin Lobo will step down as Chief Executive Officer on December 31, 2026, and become Executive Chair of the Board the following day. Spencer Stiles, currently President and Chief Operating Officer, will become CEO on January 1, 2027, and join the Board at the same time.
Stiles's annual base salary will rise to $1,320,000, with a bonus target of 150% of base salary. The Board plans to recommend a stock option and performance stock unit award for him worth $14,200,000 at grant date value in February 2027.
The handover gives Stryker 15 months to manage the transition without disrupting operations or capital allocation plans. Lobo's move into an Executive Chair role, paired with Stiles's existing position as President and COO, points to continuity in strategy rather than a change of direction.
The move follows other recent exits of longtime Stryker executives into governance roles elsewhere, including former Chief Financial Officer Glenn Boehnlein, who joined Agilent Technologies' board last month, a pattern that suggests Stryker's leadership bench continues to be viewed as a training ground across the medtech sector.