Boston: GE (NYSE: GE) announced the appointment of Peter Arduini as president and Chief Executive Officer of GE Healthcare effective January 3, 2022. Arduini will succeed Kieran Murphy who will continue to serve in his current role until the end of 2021 and then he will serve as a strategic advisor to GE before retiring from the Company.
Arduini joins GE from Integra LifeSciences (NASDAQ: IART) where he has served as president and CEO since January 2012. Under his leadership, the Integra LifeSciences portfolio has evolved significantly to a faster growing and more profitable company through multiple acquisitions and a sustainable R&D pipeline, which resulted in global leadership positions in Neurosurgery and in Plastic and Reconstructive surgery. During his tenure as CEO, the company consistently delivered double digit EPS growth as well as top line growth, doubled EBITDA and quintupled the company’s market value with total shareowner return outperforming many MedTech Peers and the S&P during his tenure. Prior to Integra, Arduini worked at Baxter Healthcare as president of its $5 billion Medication Delivery Division with 20,000 employees and a diverse portfolio consisting of Medical Devices and Pharmaceuticals. Before Baxter Healthcare, Arduini spent 15 years at GE Healthcare in a variety of leadership roles in the United States and globally, including leading the Computed Tomography & Molecular Imaging business, Healthcare Services and U.S. sales.
GE Chairman and Chief Executive Officer H. Lawrence Culp, Jr. said, “Pete has a proven track record of driving growth, margin expansion and overall financial performance. His broad and deep industry experience combined with his respected leadership and team-building style make him the right fit to continue our important work at GE Healthcare focused on precision health — integrated, efficient, and highly personalized care. We are thrilled to have Pete leading the business.”
Incoming president and CEO of GE Healthcare Peter Arduini said, “GE Healthcare’s world-class portfolio and leadership in precision health positively impacts the lives of billions of patients worldwide. Also, the business’s global scale, technical and commercial capabilities, and growth potential as one of the world’s leading medical technology companies is compelling. I am thrilled to be rejoining GE and for the opportunity to work with GE Healthcare’s talented team.”
Arduini’s board memberships include Bristol-Myers Squibb Company, the Advanced Medical Technology Association and the National Italian American Foundation. He also serves on the Board of Trustees of Susquehanna University. He received his bachelor’s degree from Susquehanna University and a master’s degree from Northwestern University’s Kellogg School of Management.
Kieran Murphy, current president and CEO of GE Healthcare, is retiring from GE after 13 years at GE Healthcare and more than.32 years in the healthcare and life sciences industries. Murphy will remain president and CEO of GE Healthcare until Arduini joins GE, at which point Murphy will serve as strategic advisor to Culp on GE’s precision health strategy, while also working closely with Arduini for a smooth and orderly transition.
GE Healthcare President and Chief Executive Officer Kieran Murphy said, “It’s been my great privilege to work alongside the wonderful team at GE Healthcare. I couldn’t be prouder of the work we do in partnership with our customers across the world, improving healthcare access, enabling more precise diagnosis and treatment, and ultimately delivering better patient outcomes. Pete is stepping in to lead a passionate team at the forefront of an ecosystem striving for precision health, and I look forward to seeing GE Healthcare’s continued leadership for years to come.”
GE Chairman and Chief Executive Officer H. Lawrence Culp, Jr. added, “Kieran has demonstrated impressive leadership over his meaningful career at GE Healthcare. Kieran’s commitment to delivering for our customers and building a culture of innovation will be felt for many years to come at GE.”