Stefan Nilsson
Envista HoldingsAbout Stefan Nilsson
Stefan Nilsson, age 55, joined Envista as President, Nobel Biocare on July 15, 2024 after serving as CEO of Colosseum Dental Group and GrandVision Brazil, and a prior career at Nestlé in operations, marketing, and general management roles . Envista ties executive pay to annual ICP metrics (core sales growth, adjusted EBITDA margin, free cash flow ratio) and to PSUs with a three-year performance period modified by relative TSR vs. the S&P 400 Health Care Sector, aligning incentives to revenue growth, profitability, and shareholder returns . Company-level performance during Nilsson’s tenure period shows continued improvement in the Specialty Products & Technologies segment (implants), with Q3 2025 sales and operating profit up year-over-year .
Envista financial highlights:
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Total Revenue ($mm) | $2,566.5 | $2,510.6 |
| Adjusted EBITDA ($mm) | $464.2 | $296.1 |
| Adjusted EBITDA Margin (%) | 18.1% | 11.8% |
| Free Cash Flow ($mm) | $223.6 | $302.8 |
Specialty Products & Technologies (implants, aligners) quarterly snapshot:
| Metric | Q3 2024 | Q3 2025 |
|---|---|---|
| Sales ($mm) | $381.7 | $431.5 |
| Operating Profit ($mm) | $12.3 | $48.1 |
| Operating Margin (%) | 3.2% | 11.1% |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Colosseum Dental Group | CEO | Jul 2018–May 2023 | Grew into one of Europe’s largest DSOs |
| GrandVision Brazil | CEO | Not disclosed | Led a leading eyecare service provider |
| Nestlé | Operations/Marketing/GM roles | Not disclosed | Global operations, marketing, general management |
External Roles
- Not disclosed in available filings .
Fixed Compensation
- Individual fixed compensation details (base salary, target bonus %, actual bonus) for Stefan Nilsson are not disclosed in the proxy or 8-K appointment materials reviewed .
Performance Compensation
Long-term and annual incentives applicable to Envista executives (design framework):
- Long-term incentives: PSUs (core sales growth and adjusted EBITDA margin over 3 years, modified by relative TSR vs. S&P 400 Health Care Sector), plus stock options and RSUs vesting ratably over three years .
- Annual ICP: Cash bonus based on Company Financial Factor (CFF) and Personal Performance Factor (PPF) with established metric weights .
2024 ICP design and outcomes (company-level):
| Metric | Weight | Threshold | Target | Maximum | Actual 2024 | Payout Basis |
|---|---|---|---|---|---|---|
| Core Sales Growth (YoY %) | 50% | -3.8% | -1.8% | 0.2% | -1.5% | 103.8% of component |
| Adjusted EBITDA Margin (%) | 40% | 9.6% | 11.6% | 13.6% | 11.8% | 102.5% of component |
| Adjusted FCF / Adjusted Net Income (%) | 10% | 85% | 105% | 135% | 239.4% | Capped at 125% |
| Company Financial Factor (CFF) | — | — | — | — | 105.4% | Weighted outcome |
Long-term PSU framework:
| Component | Definition | Performance Period | Vesting/Modifier |
|---|---|---|---|
| Core Sales Growth | Currency neutral, excludes first-year acquisition effects/divestitures | 3 years | Independent goal |
| Adjusted EBITDA Margin | Adjusted EBITDA / Net Sales (company definition) | 3 years | Independent goal |
| Relative TSR Modifier | TSR vs. S&P 400 Health Care Sector Index | 3 years | Modifies PSU outcome |
Note: The proxy specifically quantifies ICP outcomes for NEOs; Stefan Nilsson’s individual payout details are not disclosed .
Equity Ownership & Alignment
- Stock ownership policy requires substantial equity stakes within five years; multiples: CEO 5x base salary; Senior Vice President 2x base salary (applies to executive officers) .
- Pledging of Envista shares by executives/directors is prohibited; hedging transactions are prohibited company-wide .
- Equity grant timing policy: annual grants on Feb 25; off-cycle grants effective on the 25th of a month for hires/promotions; MNPI not timed to affect equity values .
- Individual beneficial ownership for Stefan Nilsson is not disclosed in the proxy’s ownership table; that table enumerates NEOs/directors and group totals .
Employment Terms
- Severance and Change-in-Control Plan (participants designated by the Compensation Committee, including NEOs) provides upon qualified termination without cause or with good reason: cash equal to Severance Multiple (CEO 2.0x; others 1.0x) times base salary plus target bonus, pro-rata bonus based on actual performance, and a lump sum of employer health premium contributions (12× Severance Multiple months; max 18 months), plus COBRA eligibility .
- Following a Change in Control (within 24 months): Severance Multiple increases by 0.5x; pro-rata bonus at target; full vesting of unvested equity (PSUs at target); 18 months of health premium coverage; COBRA eligibility .
- Clawback policy: no-fault recoupment for Big R/little r restatements—recovery of incentive compensation received within 3 years; enhanced recoupment for fraud/intentional misconduct; plan-level forfeiture provisions for gross misconduct .
- Equity award post-termination/exercise: vested options generally exercisable up to 12 months after death/disability, or 90 days for other non-retirement terminations; death accelerates options, pro-rata RSUs and target PSUs per plan terms .
Investment Implications
- Alignment: Envista’s framework places heavy weight on performance-based PSUs and options, with annual ICP focused on core sales growth, EBITDA margin, and cash conversion—this supports pay-for-performance and shareholder value creation .
- Retention risk: 2024 included one-time performance-based stock option awards to “senior leaders,” with vesting only if stock price rises 33% from $18.70 for 20 consecutive trading days and 3-year cliff service—this indicates a drive to retain and motivate top operators; the proxy enumerates NEO awards and states broader senior leader coverage, but does not disclose Stefan Nilsson’s participation specifically .
- Trading signals: Prohibition on pledging/hedging reduces misalignment risk; ownership guidelines promote “skin-in-the-game.” Individual Form 4 transactions for Stefan Nilsson were not disclosed in the documents reviewed; additional Form 4 analysis would be required to assess near-term selling pressure and vesting cadence .
- Execution context: Under Nilsson’s tenure period, Specialty Products & Technologies (which includes implants/Nobel Biocare) showed improved growth and margins in Q3 2025, suggesting operational traction in segments tied to his domain, though no direct attribution is made in filings .