Stryker CEO resigns for family reasons

KALAMAZOO, Mich. (WOOD) - The CEO of Stryker Corp. in Kalamazoo resigned on Wednesday effective immediately.

Stephen P. MacMillan, who served as chairman, president and chief executive officer of Stryker, resigned for "family reasons," according to a Wednesday night release from the corporation.

"It has been an enormous privilege to have led Stryker during this period of important change and growth," said MacMillan in the release. "As I look ahead to the next chapter in my life, I remain confident that the team will continue to execute Stryker's strategy with distinction and that the Company will enjoy continued success in the future."

Stryker, a major employer in the Kalamazoo area, manufactures medical equipment and was recently named one of Fortune Magazine's "100 Best Companies to Work For."

MacMillan has served as Stryker's CEO since 2005. He was president and COO starting in 2003 previous to becoming CEO, according to the company's website.

He has also served on boards of directors for other companies and on the U.S. Manufacturing Council.

Vice President and Chief Financial Officer Curt Hartman was named Interim CEO and William Parfet, lead independent director, took over as non-executive chairman.

"The Board is thankful for Steve's leadership over the past nine years as the Company has continued to grow in the midst of a difficult economic period. We understand and support his decision to step down for family reasons and wish him well in his future endeavors," said Parfet in the release.

Hartman has worked with Stryker since 1990 and has served in several roles for the company, the release said. He has been CFO and VP since 2009.

Parfet has been a Director of Stryker for about 20 years and currently serves as chairman  and CEO of MPI Research, Inc, a drug safety and pharmaceutical development company.

The Stryker Board of Directors has already started to search for MacMillan's replacement, the company said. The board will consider candidates from within and without the company.