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Banking Alcon names new CFO as it prepares for spinoff from Novartis

Alcon names new CFO as it prepares for spinoff from Novartis

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As Fort Worth-based Alcon prepares for its April 9 spinoff from parent company Novartis, it announced today that Timothy C. Stonesifer will join the company as its new senior vice president and CFO.

He will report directly to David Endicott, Alcon’s CEO, and become a member of the Executive Committee of Alcon.

David Murray, Alcon’s current CFO, has decided for family reasons to return to Europe and remain with Novartis, where he has served in various finance leadership roles since 2001.

“Tim joins us at an exciting time as we become an independent organization and the world’s leading eye care device company,” said Endicott. “He is an outstanding addition to our leadership team, bringing extraordinary financial acumen and deep experience in capital markets transactions, having served as CFO for numerous companies. Tim is also respected in the financial community and known for his ability to develop top-performing finance organizations that deliver results.”

Stonesifer joins Alcon with over 29 years of global financial and operational experience. He was most recently with Hewlett Packard Enterprises (HPE), where he served as executive vice president and CFO. During his tenure, he executed two spin merge transactions valued at over $20 billion, completed 11 acquisitions to accelerate the company strategy and developed and implemented a financial architecture that delivered significant value to shareholders. Prior to his time at HPE, Stonesifer spent three years in Shanghai, China, as the CFO of General Motors International Operations and also spent 18 years at General Electric in a variety of finance roles.

“I am excited to join the exceptional team at Alcon,” said Stonesifer. “For more than 70 years, Alcon has been synonymous with eye care. We share a passion for serving customers and a vision for delivering innovative products that will continue to shape the industry while driving profitable growth.”

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