WASHINGTON (dpa-AFX) - California-headquartered medical device company The Cooper Companies, Inc. (COO) on Thursday said that it has appointed Colleen Jay to succeed current Chair Robert Weiss, effective January 2.
Jay has served on the company's Board since 2016. She retired from Procter & Gamble in 2017 as Global Division President after serving for 32 years.
Weiss would remain on the Board and stand for reelection for the upcoming year, which would be his final term.
The company has also announced a formal strategic review aimed at identifying opportunities.
'Its Board and Management, with the assistance of its advisors, are undergoing a formal and comprehensive strategic review of the Companys businesses, corporate structure, strategy, operations and capital allocation priorities to identify any additional opportunities to simplify the Companys business and unlock long-term value, including through partnerships, joint ventures, divestitures, mergers, business combinations and other transactions,' the company said in a statement.
During this period, the company expects to focus capital deployment on repurchasing shares under the recently announced $2 billion share repurchase program.
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