CFO succession and NED appointment
Summary by AI BETAClose X
Convatec Group Plc
Chief Financial Officer succession and Non-Executive Director appointment
London, UK, 15 July 2026 - Convatec today announces two Board changes.
Chief Financial Officer (CFO)
Fiona Ryder will stand down as CFO when a successor has been appointed.
Fiona has made a substantial contribution to Convatec since joining in January 2022 and played a pivotal role in the transformation of Convatec's Finance function. During her tenure, she has led a number of significant initiatives, including the successful launch of Convatec's inaugural $500 million investment-grade bond and its first share buyback programme. She has also been instrumental in establishing Convatec Business Services, strengthening the company's control environment and advancing Convatec's simplification and productivity agenda. These efforts have contributed to a substantial improvement in efficiency, reducing G&A expenses from 13% of sales to below 7%.
The Board will run a thorough recruitment process for a successor best placed to support the delivery of our Accelerate strategy, and will update the market on progress in due course. In the meantime, Fiona continues as CFO and a Director, and will ensure an orderly transition to a successor once appointed.
Financial performance
We expect results for the six months to 30 June 2026 to be in line with expectations, and for Convatec to deliver another year of double-digit adjusted EPS growth in 2026, driven by 5-7% organic revenue growth1 and adjusted operating margin of ≥23%. Convatec will report its H1 results on 4 August 2026 as planned.
Non-Executive Director (NED)
Tobias Hestler has been appointed as a Non-Executive Director and member of the Audit and Risk Committee, effective immediately. Tobias brings significant financial leadership, public company, capital markets and healthcare sector experience to the Board. He was Group CFO and an Executive Director at Haleon plc from its listing as a FTSE 100 company in 2022 until 2024, having previously served as CFO designate of Haleon and as CFO of GSK plc's Consumer Healthcare Joint Ventures. Tobias is currently Non-Executive Director and Audit Committee Chair of Alliance Pharma and Treasurer and Trustee of the Elton John AIDS Foundation. Following an orderly transition period, the Board intends to appoint Tobias as Chair of the Audit and Risk Committee, succeeding Margaret Ewing, who will step down from that role.
Jonny Mason, Chief Executive Officer, Convatec, said: "I would like to thank Fiona for her substantial contribution to Convatec. She has been instrumental in delivering the success of Convatec's turnaround over nearly five years. She stepped into the role of CFO in 2025 at a challenging time for the business, and has ensured that we didn't miss a step as we transitioned to our new Accelerate strategy. We are very grateful for her continued leadership, commitment and support through the transition period."
Dr John McAdam CBE, Chair, Convatec, said: "On behalf of the Board, I would like to express our deep appreciation and gratitude to Fiona for her excellent contribution, performance and commitment to Convatec over nearly five years.
"I am pleased to welcome Tobias Hestler to Convatec as a Non-Executive Director. Tobias brings significant financial leadership and healthcare sector experience to the Board, including from his role as CFO of Haleon. I am also grateful to Margaret Ewing and Tobias for their commitment to ensuring an orderly transition of the role of Chair of Convatec's Audit and Risk Committee."
Fiona Ryder, Chief Financial Officer, Convatec, said: "It has been a privilege to work at Convatec for the last five years as we have completed Convatec's turnaround. I would like to thank all my colleagues and wish Convatec every success for the future. I will continue to support the organisation in the delivery of its objectives over the coming months and help to ensure a smooth transition to my successor."
Tobias Hestler, Non-Executive Director, Convatec, said: "I am very pleased to be joining Convatec at this stage in its development. Having spent my career in healthcare businesses, Convatec's purpose, strong market position and strategy resonate deeply. I look forward to working with John, Jonny and the Board, and to supporting the Convatec team, as it delivers its Accelerate strategy and creates long-term value for patients, customers, colleagues and shareholders."
Enquiries
Media: mediarelations@convatec.com
Analysts & investors: ir@convatec.com
Notes:
1 Excluding InnovaMatrix
Fiona Ryder joined Convatec on 3 January 2022 as Group Financial Controller and was appointed CFO on 6 November 2025, following a period as interim CFO from 4 August 2025.
Biographical information for Tobias Hestler can be viewed on the company's website.
The remuneration details relating to Fiona Ryder's departure are consistent with the Company's Remuneration Policy and will be provided on Convatec Group's website in due course and in the Company's Directors' Remuneration Reports in accordance with the Company's statutory obligations.
This announcement is made in accordance with Listing Rule 6.4.6. There is no further information to be disclosed under the requirements of Listing Rule 6.4.8 of the Listing Rules in relation to Tobias Hestler's appointment.
This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. The person responsible for making this announcement is James Kerton, Company Secretary, Convatec Group Plc.
Convatec Group Plc's LEI code is 213800LS272L4FIDOH92
About Convatec
Pioneering trusted medical solutions to improve the lives we touch: Convatec is a global medical products and technologies company, focused on solutions for the management of chronic conditions, with leading positions in Advanced Wound Care, Ostomy Care, Continence Care, and Infusion Care. With more than 10,000 colleagues, we provide products and services in around 90 countries, united by a promise to be forever caring. Our solutions provide a range of benefits, from infection prevention, treatment for hard to heal wounds, at-risk skin and ulcerated tissue to supporting debilitating conditions, improved patient outcomes and reduced care costs. Convatec's revenues in 2025 were over $2 billion. The company is a constituent of the FTSE 100 Index (LSE:CTEC). To learn more please visit http://www.convatecgroup.com
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