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Sulzer Medica names new CEO

Stephan Rietiker, the new chief executive of Sulzer Medica

The medical technology company, Sulzer Medica, has named Stephan Rietiker as its new chief executive. He'll take up his new position at the beginning of August.

Rietiker replaces Andre Buchel, whose planned retirement was delayed because of Sulzer Medica’s impending spin off from the Sulzer industrial conglomerate next month.

Rietiker is currently general manager at Covance European Central Laboratory Services in Geneva which employs 300 people. A medical doctor by training, Rietiker has previously worked for Roche and Health and Pharma Consulting Ltd.

He joins the company as it tackles a product recall which may cost the company up to SFr1 billion ($558 million). More than 1,700 patients have had replacement operations after hip implants proved to be faulty.

The recall has dented the firm’s reputation and wiped millions of francs off its stock market capitalisation.

swissinfo with agencies

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SWI - a branch of Swiss Broadcasting Corporation SRG SSR