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- Departure of CFO (new) — CFO resigned to pursue new opportunity, though company stated no disagreements on financial matters or controls.
Zimmer Biomet CFO Suketu Upadhyay resigns; Controller Paul Stellato named interim CFO
Filed April 28, 2026 · Period ending April 22, 2026 · ~1 min read
Key Changes
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CFO Suketu Upadhyay resigned effective April 28, 2026 to pursue a new opportunity. Company explicitly stated departure was not due to disagreements on financials, internal controls, or operations.
Item 5.02 verify on EDGAR → -
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Paul Stellato, current Controller and Chief Accounting Officer since May 2022, appointed interim CFO while permanent search underway. He will serve as both principal financial officer and principal accounting officer.
Item 5.02 verify on EDGAR → -
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Stellato's interim compensation includes $550,000 base salary (prorated), 70% target bonus tied to performance goals, and $850,000 in equity awards ($750K RSUs vesting over 3 years, $100K PRSUs).
Item 5.02 verify on EDGAR → -
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Stellato has led global controllership, accounting, and financial planning functions at Zimmer Biomet. Prior experience includes senior finance roles at Xylem and ITT, plus public accounting background.
Item 5.02 verify on EDGAR →
Summary
Zimmer Biomet's CFO Suketu Upadhyay resigned effective April 28, 2026 to pursue a new professional opportunity. The medical device company emphasized his departure was not related to any disagreements on financial statements, internal controls, operations, or policies—standard language meant to reassure investors during executive transitions.
Paul Stellato, who has served as Controller and Chief Accounting Officer since May 2022, will step into the interim CFO role while continuing his current responsibilities. For retail investors, CFO transitions warrant attention because the finance chief oversees financial reporting, capital allocation, and investor communications.
However, Stellato's four-year tenure overseeing controllership and financial planning suggests institutional knowledge and continuity. His compensation package—$550K base salary, 70% target bonus, and $850K in equity—aligns him with shareholder interests during the transition. The company has initiated a permanent CFO search. Watch for the permanent CFO announcement in coming months and any changes to financial guidance or reporting practices during the interim period. Stellato's dual role as both principal financial officer and principal accounting officer is workable short-term but concentrates significant responsibility.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
Mr. Stellato, age 51, has served as the Vice President, Controller and Chief Accounting Officer at the Company since May 2022. In this role, he oversees the Company’s global controllership and accounting functions as well as leading the financial planning and analysis function.
Paul Stellato, age 51, has been with Zimmer Biomet since May 2022 as Vice President, Controller and Chief Accounting Officer. He oversees global controllership, accounting functions, and financial planning and analysis. His prior experience includes senior finance roles at Xylem Inc. and ITT Corporation, and he began his career in public accounting with Ernst & Young and Arthur Andersen.
Event · Item 7.01 — Regulation FD Disclosure
Zimmer Biomet issued a press release on April 28, 2026 relating to matters described in Item 5.02 (leadership changes).
Added in current filing · verify on EDGAR →
On April 28, 2026, the Company issued a press release relating to the matters described above in Item 5.02. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated into this Item 7.01 by reference.
Zimmer Biomet issued a press release on April 28, 2026 regarding matters disclosed in Item 5.02 of this 8-K. Item 5.02 typically covers departures or appointments of directors or principal officers. The press release is attached as Exhibit 99.1 but the full text is not provided in this excerpt.
Event · Item 9.01 — Financial Statements and Exhibits
Zimmer Biomet filed an 8-K to attach a press release dated April 28, 2026; no material business event disclosed in the filing body.
Added in current filing · verify on EDGAR →
Press release dated April 28, 2026
The 8-K references an attached press release dated April 28, 2026 (Exhibit 99.1). The filing body provides no details about the press release content, so the nature and materiality of the disclosure cannot be determined from this 8-K alone. Investors should review Exhibit 99.1 directly to understand what was announced.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 2, 2026 · How we verify