Coloplast confirmed on Thursday that Gavin Wood will assume the role of President and Chief Executive Officer on May 1, 2026. The decision closes a year-long leadership transition that began after former CEO Kristian Villumsen left the company in May 2025.
Wood will replace Lars Rasmussen, who has been serving as interim CEO and steering the company through operational headwinds and a reset of its strategic priorities. Rasmussen's interim leadership encompassed managing day-to-day operations while the company sought a permanent successor.
Wood arrives with nearly 20 years of experience in the medical technology sector. Most recently, he was Company Group Chairman of Johnson & Johnson MedTech EMEA, where he led a multi-billion-dollar portfolio covering Surgery, Orthopedics, and Cardiovascular and Specialty Solutions. Prior to that, Wood held the role of Worldwide President for Johnson & Johnson's Ethicon wound closure business and served as Executive Vice President Commercial at Mölnlycke. He also holds a position as Vice Chair of the MedTech Europe trade association.
The executive, who is Canadian and currently resides in Switzerland, will relocate to Denmark ahead of formally taking on the CEO responsibilities. His experience includes leadership of large global operations and specific exposure to wound care - areas the company has highlighted in describing his fit for the role.
Wood steps in as Coloplast progresses with its Impact4 strategic plan, which the company unveiled in September. The appointment emphasizes Coloplast's selection of a senior leader with deep medical technology and wound care experience to guide the next phase of implementation.
Summary
Gavin Wood will become Coloplast's President and CEO on May 1, 2026, ending a one-year transition that followed Kristian Villumsen's May 2025 departure. He succeeds interim CEO Lars Rasmussen, brings two decades of MedTech leadership including high-level roles at Johnson & Johnson and Mölnlycke, and will relocate from Switzerland to Denmark. Wood will take charge as Coloplast continues to roll out its Impact4 strategic plan.
Key points
- Appointment effective May 1, 2026 finalizes a year-long transition after the former CEO left in May 2025 - impacts corporate leadership continuity and governance.
- Gavin Wood has nearly 20 years of senior MedTech experience, including leading Johnson & Johnson MedTech EMEA and Ethicon wound closure - relevant to Coloplast's product and market focus.
- The new CEO will relocate from Switzerland to Denmark and will take the helm while Coloplast implements its Impact4 strategic plan unveiled in September - relevant to strategic execution and operational priorities.
Risks and uncertainties
- Leadership transition risk - the change in CEO concludes a year-long handover, and execution of strategy under new leadership carries customary execution risk across the healthcare and MedTech sectors.
- Operational and strategic reset - Lars Rasmussen managed a period of operational challenges and a strategy reset; the extent to which the new CEO can sustain or accelerate improvements is uncertain.
- Relocation and integration - Wood will move from Switzerland to Denmark prior to taking office; the operational and managerial effects of relocation and leadership integration are not detailed.