By Joshua Kirby

Fresenius SE & Co. said Friday that Chief Executive Officer Stephan Sturm will leave the company next month, to be replaced by Michael Sen, current CEO of subsidiary Fresenius Kabi.

Mr. Sen will take the reins of the German healthcare company on Oct. 1, having been unanimously appointed by the supervisory board, Fresenius said.

Mr. Sturm, CEO since 2016, leaves the company on good terms, the company said.

Mr. Sen will remain head of Fresenius Kabi until a replacement is appointed, the company said. Prior to joining Fresenius, he managed conglomerate Siemens AG's healthcare business Siemens Healthineers AG and its energy business, Fresenius said.

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

(END) Dow Jones Newswires

August 19, 2022 13:01 ET (17:01 GMT)

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