John Rogers will leave medical technology group Smith+Nephew on 30 September to take up an external position in the US, with his resignation coming shortly after the company cut its full-year revenue growth outlook.

Rogers, who joined as CFO in April 2024 from WPP, has stepped down from the board with immediate effect, while Smith+Nephew has begun the search for his successor. Pierre Palassian, senior vice president finance and group controller, will serve as interim CFO.

Palassian joined Smith+Nephew in 2017 and has more than two decades of finance leadership experience, including senior roles at AbbVie and Abbott Laboratories.

Smith+Nephew shares fell about 3.8% in morning trading following the announcement, as investors reacted to the loss of a senior executive at a challenging point for the business.

The departure comes weeks after the group lowered its full-year revenue growth outlook following weaker-than-expected second-quarter sales, particularly in US knee and hip implants, alongside pricing pressure in wound care.

The Watford-based FTSE 100 firm reported Q2 revenue of $1.56bn, up 2.8% reported year-on-year and H1 revenue of just over $3bn, up 4.6% reported year-on-year, but growth has been slowing.

When Smith+Nephew reported Q2/H1 results on 4 August, it cut its full-year revenue growth outlook from around 6% to around 4%.

The timing potentially adds uncertainty around the execution of the firm's turnaround and Rise strategy, which Rogers helped develop, its medium-term strategy designed to accelerate growth, improve profitability and strengthen execution across the business.

CEO Deepak Nath said: "I would like to thank John for his many contributions over the last three years as we've delivered the 12-Point Plan, improved our financial performance and developed the RISE strategy. He has been a valued colleague and a highly regarded member of our Executive Committee."

The company said Rogers would continue working until 30 September and would receive his salary, benefits and pension contributions in the normal way, but that no severance payment will be made.

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