Joe Mullings l Executive Shifts and Market Dynamics: Navigating Career Opportunities in 2025

2025 may well be a bit of shuffling in the Executive ranks.

Here are some of the dynamics to consider as you navigate your career choices over the next few years.

Leadership performance and decisions determine career opportunities.

– We have a new administration in Washington.
– The public markets seem to be opening up.
– The overhang and “reasons” for underperformance due to the pandemic have run their course.
– The next few years is more predictable than the previous few years.
– Shareholders and Boards are going to be looking for performance.

Especially when peers in the grouping have had tremendous performance:

Kevin Lobo at Stryker a market cap of $25B to $149B since 2015 – 6X
Mike Mahoney at Boston Scientific, a market cap of $10B to $155B since 2015 – 15X
Gary Guthart at Intuitive, a market cap of $15B to $207B – 14X

Organizations that may have change coming:

Edwards Lifesciences – Mussalem retired. Bernard Zovighian come in (10+ years at Edwards). Market cap in 2020 was $56B, a quick jump to $80B in 2021 and now sits at $41B. Flat the last 4 years.

Baxter International Inc. – Jose Almeida stepped down suddenly, under-performing, hopefully nothing more than that.

Philips – $1B settlement CPAP, Roy Jakobs stepped in 2022 (internal). Doubled marketcap from a 20 year low of $12B to $24B in last 3 years.

Smith+Nephew – Deepak Nath, Roland Diggelman, Namal Nawana (all external from S&N) and short tenure. Investors pushing breakup. Since 2020 a $20B to $11B market cap

BD Dickinson – $30B in 2015 to 67B in 2020, flat market cap past 5 years. Hostile investors pushing for breakup.

Medtronic – Gone from a market cap of $180B to currently $115B

Internal innovation, investment, new ventures, and proper acquisitions lead to opportunities in your career.