$5 billion ASX 200 healthcare stock tumbling on CEO exit

S&P/ASX 200 Index (ASX: XJO) healthcare stock Ansell Limited (ASX: ANN) is taking a tumble today.

Shares in the health and safety products company closed yesterday trading for $35.58. In morning trade on Thursday, shares are swapping hands for $34 apiece, down 4%. That gives Ansell a market cap of just under $4.9 billion.

For some context, the ASX 200 is up 0.1% at this same time.

Today's underperformance of Anell shares looks to be driven by news of a top leadership changeover.

Here's what's happening.

ASX 200 healthcare stock under new leadership

Before market open today, Ansell announced that Neil Salmon has decided to retire from his role as managing director and CEO.

Salmon has been with the company for 13 years and has served as CEO since 2021.

The ASX 200 healthcare stock reported that Nathalie Ahlstrom will succeed Salmon as CEO and managing director. She will join Ansell on 26 January for a transition period, before taking over the reins on 16 February.

Salmon will then continue as a special advisor to the board and to Ahlstrom until 30 June, helping to provide a smooth transition.

The Ansell board noted that Ahlstrom brings strong global experience. Until recently, she served as CEO and president of the Fiskars Group, with the board expressing confidence that she is the right leader to steer Ansell through its "next chapter of innovation and growth".

Ahlstrom will be based out of Ansell's Brussels hub in Belgium.

What did management say?

Commenting on the CEO transition that's throwing up headwinds for the ASX 200 healthcare stock today, Ansell chair Nigel Garrard said, "We are delighted to appoint Nathalie as Ansell's next managing director and CEO."

Garrard continued:

Nathalie brings exceptional leadership experience, a track record of delivering results in complex global markets, and a deep understanding of innovation and operational excellence. These qualities, combined with her strategic vision, will help ensure that Ansell continues to strengthen its market position and deliver long-term value for our stakeholders.

Addressing the outgoing CEO, Garrard said, "Neil has played a pivotal role over his 13 years with Ansell and, as CEO, in creating the foundations of the company's recent success."

Garrard added, "Results can be seen in strong organic growth in difficult market conditions, improved productivity and success implementing the company's long term sustainability strategy."

"Ansell is a wonderful organisation to lead," outgoing CEO Salmon said.

Salmon concluded:

It has been very rewarding to see the company flourish and deliver on our ambitious goals during my time as CEO…

As I prepare to conclude my executive career, I look forward to supporting a smooth transition and to assist Nathalie in any way I can.

With today's intraday fall in the Ansell share price factored in, shares in the ASX 200 healthcare stock are up 0.8% over 12 months, and up 11.5% over the past six months.

The post $5 billion ASX 200 healthcare stock tumbling on CEO exit appeared first on The Motley Fool Australia.

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Ansell. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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