Carl Zeiss Meditec

Under CEO Andreas Pecher, Carl Zeiss is consolidating an ambitious cost-cutting program with annual savings of “several hundred million” over three years to free up funds for the innovation program “Beyond.” The focus remains the semiconductor division, supplying high-end projection optics for ASML, while the group is also seeking new future fields such as spatial biology, photonics and precision farming. Restructuring measures include divestments (e.g., sports optics) and staffing adjustments; up to 700 jobs worldwide in the medical technology unit could be affected. The goal is to make Zeiss grow profitably in the long term and to provide resources for scalable, market-ready innovations. » Más en faz.net

Bronwyn Brophy O'Connor will succeed Andreas Pecher as CEO of Carl Zeiss Meditec on December 1. At the same time she will join the management board of the parent company and take responsibility for its medical technology division. The executive previously worked at Vitrolife, brings more than 25 years of industry experience and has worked for Thermo Fisher and Medtronic, among others; Pecher had recently launched a cost‑saving program that could cut up to 1,000 jobs. » Más en wiwo.de

After a sell recommendation from Goldman Sachs, Carl Zeiss Meditec’s stock came under pressure and fell intraday by as much as around 7 percent, but remained just above the 200-day line at €28.98 and later reduced the loss to about 2 percent. Goldman Sachs justified the downgrade with further deteriorated sales prospects and the assessment that these risks were not yet sufficiently reflected in the valuation. The stock is down more than 20 percent year-to-date. » Más en finanzen.net