UK medical products maker Smith+Nephew's CFO shifts base to US

(Reuters) -Smith+Nephew said on Tuesday its chief financial officer, John Rogers, would now be based out of the United States, citing operational efficiency as more than half of the British medical products maker's revenue comes from the U.S.

Most of the group's top executives are also based in the United States, including CEO Deepak Nath.

Moving Rogers, a British national, from the UK would "enhance executive leadership and oversight" of U.S. operations, the company said, adding that it would also help execute Smith+Nephew's strategy alongside senior leaders based in the U.S. and elsewhere.

The group, which makes orthopaedic implants, wound dressings and other surgical aids, has been cutting costs and launching products to tap into a recovery led by elective surgeries in the U.S., offsetting pressures in China.

The U.S. made up nearly 54% of the company's revenue in 2024. Most Smith+Nephew's manufacturing bases are also in the U.S., accounting for about two-thirds of products it sells there.

Last week the U.S. Commerce Department said it had opened new national security probes into the import of medical equipment, among other goods, under the so-called "Section 232" investigations to determine the impact of imports on national security.

Smith+Nephew has not commented on the latest probe, but it had previously said that it expects to see the bulk of tariff impact in the second half of the year. To mitigate the impact, its plans involve adjusting the product flow within its manufacturing network.

The company on Tuesday also said that Rogers, 57, will be employed under a local U.S. contract, with remuneration also aligned with U.S. market practices. His base salary will be reduced to $875,000 from $1.01 million, at current exchange rates.

Smith+Nephew said that Rogers' move was unrelated to any U.S. visa changes. U.S. authorities this month had introduced a $100,000 one-time fee for new H-1B visa petitions, a process largely used by tech companies to bring in skilled foreign workers.

(Reporting by Nithyashree R B and Pushkala Aripaka in Bengaluru; Editing by Janane Venkatraman, Ronojoy Mazumdar and Susan Fenton)