* Roberto Quarta replaces John Buchanan as non-exec chairman
* Q3 revenue $1.03 billion vs consensus $1.02 billion
* Q3 adjusted EPS 17.1 cents vs consensus 17 cents
LONDON, Oct 31 British medical devices group
Smith & Nephew picked veteran industrialist Roberto
Quarta as its new chairman on Thursday as it posted 5 percent
higher quarterly sales, boosted by strong demand for wound care
Quarta, an Italian-American businessman now based in
Britain, will join as a non-executive director on Dec. 4 and is
slated to become chairman from next April, replacing John
Buchanan who is stepping down after nine years.
He will be joining Smith & Nephew at an interesting time,
since it is banking on new products to reinvigorate sales in
replacement hips and knees.
Smith & Nephew has been trailing rivals like Johnson &
Johnson, Zimmer and Stryker in
orthopaedic reconstruction due to a relative lack of new
But Chief Executive Olivier Bohuon said the joint implant
business was now improving, following successful new product
introductions and increased investment.
The group posted revenue of $1.03 billion and adjusted
earnings per share (EPSA) of 17.1 cents in the third quarter,
while trading profit rose 10 percent to $222 million.
Analysts, on average, had forecast revenue of $1.02 billion
and EPSA of 17 cents, according to Thomson Reuters.
Smith & Nephew maintained its outlook for the full year but
said market conditions remained tough.
Quarta currently chairs IMI, Rexel and
private equity firm Clayton, Dubilier & Rice Europe.