Bill Jellison will be Stryker Corporation’s next CFO starting April 22, 2013.
Bank of America analyst Bob Hopkins says Stryker’s new President and CEO Kevin Lobo has moved quickly to fill top positions and realign reporting duties to “secure existing talent” since last year’s management turnover.
Stryker’s current Interim CFO Dean Bergy will help Jellison get settled into his new role and remain as corporate secretary.
According to the company’s April 8, 2013, announcement, Jellison will have global responsibilities for Stryker’s finance and information technology activities, including corporate accounting, reporting, tax, treasury and internal audit functions.
Dentsply International and Donnelly Corporation Experience
Before joining Stryker, Jellison spent 15 years at Dentsply International, the world’s largest manufacturer of professional dental products, most recently as the company’s senior vice president and CFO. Before Dentsply, he had an 18-year career with the Donnelly Corporation of Holland, Michigan, where he served as vice president of finance.
In an April 8 note to investors, Hopkins wrote that Jellison is “a fantastic fit for [Stryker], given his background and experience…[He] brings solid international experience (Dentsply generates nearly 60% of revenue outside the U.S. and about $3 billion in total revenue), solid operating experience (in addition to being CFO, he has had full P&L (profit and loss) responsibilities over a number of Dentsply’s international and domestic businesses) and solid M&A (merger and acquisition) experience, as Dentsply has successfully integrated several small tuck-in acquisitions over the last several years.”
Fitting In
Hopkins sees Jellison’s background as a strong fit for Stryker, given the increasing importance of international sales to the company; the ongoing importance of tuck-in acquisitions to drive long-term growth. and Hopkins’ view that Jellison’s style and personality will fit very well at Stryker.
The company announcement said Jellison’s “extensive experience and strong track record will be instrumental in helping Stryker drive globalization and cost optimization.”
“Bill’s accomplished career in managing the financial activities of growing multinational organizations will complement our leadership team in achieving our strategic goals, ” stated Lobo.
Michigan Roots
Jellison is practically a home-town boy, graduating from Hope College in Holland, Michigan, with a bachelor’s degree in business administration. He then became a certified management accountant and is a member of both the IMA (Institute of Management Accountants) and FEI (Financial Executives International).
