Teleflex Incorporated (TFX), a medical technology company, on Thursday announced leadership changes and also lowered its full-year revenue outlook. Teleflex shares fell more than 13% in pre-market trading.
The company named board member Stuart Randle as Interim President and Chief Executive Officer, effective immediately. Stephen Klasko, Teleflex's Lead Director, was appointed Chairman of the Board.
Randle succeeds Liam Kelly, who stepped down as Chairman, President and CEO.
The Board has engaged an executive search firm to conduct a comprehensive search for a permanent CEO.
"With the announced sale of our Acute Care, Interventional Urology and OEM businesses, Teleflex is entering its next phase as a more focused, higher-growth organization, as well as executing on the announced transactions and focusing on core critical care and high-acuity hospital markets," said Klasko. "The Board determined this is the right time to transition leadership and best position the Company for the future."
Additionally, Teleflex said it now expects full-year 2025 revenue to be between $3.270 billion and $3.278 billion, down from prior guidance of $3.305 billion to $3.320 billion.The company attributed the revision to softer-than-expected demand for intra-aortic balloon pumps and catheters in the U.S. and Asia toward year-end, delays in certain OEM purchase orders, and lower overall order volumes across parts of its portfolio.
Teleflex shares closed at $126.53 on Wednesday, up 1.37%.
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