Cooper Companies CEO White steps down

Oct 27 — Cooper Companies said on Tuesday CEO Al White had ​stepped down, effective immediately, and board member Walt Rosebrough was elected executive chair as the medical device maker begins ‌its search for a new CEO.

• Rosebrough, an independent director who joined the board ⁠in January, is the former ​CEO of STERIS and will ⁠oversee day-to-day operations at Cooper until a permanent CEO is ‌appointed

• Rosebrough said recent ‌performance "has not met our expectations" and warranted decisive action ⁠by the board

• The leadership overhaul ⁠was not a surprise given the involvement of activist investors Jana and Browning West, and could mark an early step toward improving shareholder value, J.P. Morgan analyst Robbie Marcus said

• Cooper's review of strategic options for its women's health business ‌did not result in a sale, contributing ​to pressure on management, Marcus said

• A new management team does not guarantee better returns, but the changes could help restore investor trust, he added

• White, who is also leaving the board, will remain with the company as a strategic adviser through April 2027

• Additionally, Shlomi Nachman, a former Johnson & Johnson ​executive with experience in medical devices and vision care, will join ‌the board as ‌an independent ⁠director, from December 8, Cooper said

• Three current board members, Barbara Carbone, Colleen Jay and Robert Weiss, will not stand for re-election at the company's 2027 annual shareholder meeting, it added

• The ‌company reaffirmed its fiscal ​2026 forecast issued on September 9, ‌including annual adjusted earnings ⁠of $4.51 to $4.55 ​per share

(Reporting by Siddhi Mahatole in Bengaluru; Editing by Shreya Biswas and ​Diti Pujara)

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