Hospital bed supplier Hill-Rom Holdings said today that CEO John J. Greisch will retire.
The Chicago-based company has begun a search for a new CEO and expects to complete it in the April-to-June quarter, which is when Greisch plans to retire.
Greisch, 62, is a former Baxter International executive who came to Hill-Rom in 2010. Under him, the company has completed seven acquisitions in the past five years.
Under Greisch, "Hill-Rom has transformed its business portfolio, expanded globally and enhanced its position as a global medical device leader," Chairman Rolf Classon said in a statement.
Hill-Rom's revenue has doubled since 2010, to $2.74 billion in the fiscal year ended Sept. 30. in 2015 the company moved its headquarters to Chicago from Batesville, Ind.
Hill-Rom today reported earnings of $1.31 per diluted share for the quarter that ended Dec. 31, compared to $0.36 per diluted share in the prior-year period. Earnings, adjusted for one-time gains and costs, were 92 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.
Revenue rose 5 percent to $670 million.
Hill-Rom stock was down 4.1 percent this morning. The stock has increased 52 percent in the last 12 months.