Ramesh Subrahmanian is leaving Stryker Corporation.
Effective December 31, 2015, Subrahmanian will no longer serve as Group President, International, “as a consequence of a restructuring of the company’s international group, ” stated a company September 17, 2015 SEC regulatory filing.
He’ll stay on in an advisory role for three months following his departure and continue to receive his current compensation and benefits.
In addition, the regulatory filing said he will be eligible for an incentive payment of $99, 187.50 for the advisory period and will receive a severance payment in the amount of $396, 750.00 payable in 18 semi-monthly installments during the last nine months of 2016 and a lump sum payment of $275, 000.00 on or before March 15, 2016.
Subrahmanian has been on assignment in Singapore and will also be entitled to receive relocation benefits.
Former Stryker CEO, Stephen MacMillan hired Subrahabnian away from Merck & Co. in 2011 to beef up less than stellar international sales. He had spent 23 years in the pharmaceutical industry where he held various senior level jobs. In addition to Merck, he worked for Sanofi-Aventis and Hoechst Marion Rousel Ltd.
