For six long months, orthopedics specialist Stryker has been without a permanent chief financial officer. No longer.
On Monday, the company announced that it has hired away Dentsply CFO William Jellison to become its new CFO. On April 22, therefore, current Stryker interim CFO Dean Bergy will give up his chair, and Jellison will take over responsibility for Stryker's finance, corporate accounting, reporting, tax, treasury and internal audit functions. Bergy will help with the transition, and also retain his titles of company VP and corporate secretary.
Stryker has not yet disclosed Jellison's compensation package.
Meanwhile, over at Dentsply, the company moved quickly to replace its exiting executive. Dentsply Chief Operating Officer Chris Clark will take over as CFO. In turn, company executive vice president Jim Mosch will be promoted to the COO post.
Dentsply shareholders have little cause to rue their loss. The company's shares rose 1% in Monday trading after news of Jellison's departure, closing at $41.13. Stryker shares, too, fared well, gaining 0.6% to close at $65.38.
The article Stryker Poaches a CFO From Dentsply originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.