Timothy Stonesifer has been appointed Senior Vice President and CFO of Alcon in conjunction with the company’s April 9 spinoff from Novartis. He will report directly to David Endicott, Alcon’s Chief Executive Officer, and become a member of the Executive Committee of Alcon. The news was reported today. (Alcon, eye care, is a division of Novartis).
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. He will work closely with Tim Stonesifer through the spinoff to ensure an orderly transition.
“Tim joins us at an exciting time as we become an independent organization and the world’s leading eye care device company,” said David Endicott, Alcon’s Chief Executive Officer. “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.”
Tim is a seasoned executive who 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, Tim executed two spin merge transactions valued at over $20B, 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, Tim spent 3 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 Tim. “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.”
“On behalf of the management team and the entire company, I would like to thank David Murray for his significant contributions to Alcon over the past 4 years,” said David Endicott. “David has been transparent about wanting to minimize his commute between Geneva and Fort Worth and we certainly respect his decision. He has worked tirelessly to drive transformation across the company, developing a strong foundation for our financial and business processes and systems that will allow us to operate from a position of strength as a public standalone company. We wish David all the best in his future with Novartis.”