Zimmer Biomet Holdings Inc. announced upcoming changes  to the company's board of directors.
Non-Executive Chairman of the Board Christopher Begley will retire from the board of directors at the company's annual meeting of stockholders on May 29, pursuant to the mandatory director retirement age in the company's corporate governance guidelines.
President and CEO Ivan Tornos will become chairman of the board upon Begley's retirement.
Michael Farrell will become lead independent director upon Begley's retirement.
"Chris has been a tremendous advisor to Zimmer Biomet since joining the board in 2012. His vision, thoughtful counsel, and dedication to the company have been instrumental in positioning Zimmer Biomet as a MedTech leader and innovator," said Tornos. "On behalf of the entire board of directors and leadership team, I want to extend my deep gratitude to Chris for his exemplary leadership and service as a member of Zimmer Biomet's Board. We have all benefitted immensely from Chris's guidance, leadership and mentorship as board chair."
Begley has been a member of the company's board of directors since 2012, has served as non-executive chairman since August 2023 and prior to that served as lead independent director since May 2021. During his tenure as a director, he has also served as a member of the corporate governance and the compensation and management development committees, and as chair of the quality, regulatory and technology committee. He is the retired chairman and chief executive officer of Hospira Inc. and the retired non-executive chairman of the Board of Hanger Inc.
"Ivan has demonstrated bold leadership during his tenure as president and CEO, and prior to that as chief operating officer at Zimmer Biomet," said Begley. "I and the entire board of directors are excited to see how he continues to drive even stronger value for patients, shareholders, physicians and customers in his expanded role as chairman of the board."
Farrell has been a Zimmer Biomet Board member since 2014 and currently serves as chairman of the compensation and management development committee and as a member of the quality, regulatory and technology committee. He is the chairman and chief executive officer of ResMed Inc.
Tornos stated, "We are honored to have Mick serve as our lead independent director. He is a respected and accomplished business leader who brings strong integrity, a collaborative approach, and a valuable strategic perspective to our board. I look forward to working with him in his new role."