Name: Helen Giza
Previous title: Chief financial officer and deputy CEO, Fresenius
New title: CEO, Fresenius
Giza has been appointed CEO of Fresenius effective immediately, as the kidney care giant continues to struggle with its financial outlook and operational strategy.
Giza is replacing outgoing CEO Carla Kriwet, who is leaving the company at her own request and by mutual agreement due to strategic differences, according to a Fresenius release Monday. Kriwet served as CEO for roughly two months, after succeeding Rice Powell in October.
“In a fundamentally sound industry Fresenius Medical Care now needs to sharpen its focus on the operational turnaround, further drive performance improvements, and focus on its core,” Fresenius chairman Michael Sen said in a statement, calling Giza “ideally suited to lead Fresenius Medical Care for what lies ahead.”
Fresenius cut its 2022 income outlook in October, citing higher labor costs and slow recovery in its North America business. The German-based dialysis care provider now expects a decline in the high-teens to mid-twenties percentage range, down from its prior guidance of a high-teens percentage decline.
Fresenius also disclosed that activist investor Elliott Investment Management had taken a 3% stake in the company, and believed that structural changes were required, according to Bloomberg.
Giza joined Fresenius in 2019 as CFO, and added the roles of deputy CEO and chief transformation officer in 2022. The executive served as chief integration and divestiture management officer at Takeda Pharmaceuticals beginning in 2018. Giza has also held a number of finance and operational positions at companies including TAP Pharmaceuticals and Abbott Laboratories.
Giza will continue to serve as Fresenius CFO until the board can find a successor.