The global president of CooperCompanies – parent company of CooperVision and CooperSurgical – has stepped down from his position, with the company saying that “decisive action” was needed to ensure it reaches its long-term potential.
Albert (Al) White III has also resigned as Chief Executive Officer and as a member of the Board. He will remain as a strategic adviser until April next year.
Walter Rosebrough, Jr., an independent director of the company’s Board of Directors has been elected Executive Chair of the Board and will assume direct oversight of day-to-day operations at CooperCompanies until a permanent CEO is appointed.
“[CooperCompanies’] recent performance has not met our expectations, and the Board believes decisive action is needed to ensure the Company reaches its long-term potential,” Mr. Rosebrough said.
“I will be working closely with the Board and the management team on priorities that will strengthen the foundation for growth and value creation.”
