Cochlear Limited (ASX:COH), a global leader in implantable hearing solutions, has announced significant changes to its executive team as part of its strategic leadership transition. These changes reflect the company’s commitment to maintaining its growth trajectory and adapting to evolving market dynamics.
Richard Brook, the long-serving President of Europe, Middle East, and Africa (EMEA), will step down from his role at the end of December 2024. Brook's departure marks the end of an era of remarkable growth for Cochlear in the EMEA region. Under his leadership, Cochlear achieved an impressive eight-fold increase in revenue, highlighting his pivotal role in expanding the company’s market presence and operational success.
Effective January 1, 2025, Anthony Bishop will succeed Richard Brook as the new President of EMEA. Bishop, who is currently the President of Asia Pacific & Latin America, brings a wealth of experience to his new role. Since joining Cochlear in July 2016, Bishop has been instrumental in shaping the strategic direction for the company’s operations across Australia, Asia, the South Pacific, and Latin America. His prior experience includes a 21-year tenure at Johnson & Johnson Medical, where he held various roles in marketing, sales, and general management, including serving as Managing Director for Johnson & Johnson Medical in Australia and New Zealand.
In a parallel transition, Stu Sayers, the current Chief Financial Officer (CFO) of Cochlear, will take on the role of President of Asia Pacific & Latin America from January 1, 2025. Sayers, who has served as CFO since February 2021, previously held the position of President, Services. His extensive experience includes leadership roles at Amazon’s Audible, E*TRADE, and Yahoo!7, as well as senior positions at ANZ and McKinsey. Sayers’ deep understanding of Cochlear’s financial operations and strategic goals positions him well to lead the company’s growth in these key regions.
Cochlear is currently conducting an executive search to find a new CFO to fill the vacancy left by Sayers. An announcement regarding the new CFO will be made once the appointment is finalized.
These executive changes reflect Cochlear’s ongoing commitment to strengthening its leadership team and ensuring the company remains well-positioned to drive innovation and growth in the global hearing solutions market. The new leadership team is expected to build on the company’s successes and navigate future challenges with strategic foresight and effective management.