Rajeev Suri
STRYKERAbout Rajeev Suri
Rajeev Suri (age 57) is an independent director of Stryker, serving on the Board since 2018 and currently a member of the Audit Committee. He is the former CEO of Inmarsat (2021–2023) and Nokia (2014–2020; CEO of Nokia Solutions & Networks 2009–2014), bringing deep global telecom, technology and operational leadership to Stryker’s Board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Inmarsat | Chief Executive Officer and Director | 2021–2023 | Led global satellite communications company |
| Nokia | President & CEO | 2014–2020 | Oversaw strategy, operations, M&A in global telecom |
| Nokia Solutions and Networks | Chief Executive Officer | 2009–2014 | Ran networks business through transformation |
| Nokia | Various leadership roles | 1995–2009 | International operating leadership |
External Roles
| Organization | Role | Tenure/Status | Notes |
|---|---|---|---|
| Digicel Group | Chairman of the Board | Current | Telecom operator (Caribbean) |
| M-KOPA | Chairman of the Board | Current | Fintech/asset finance platform |
| Singtel | Director | Current | Asia-based telecom operator |
| Viasat | Director | 2023–March 2025 | Satellite communications; stepped down March 2025 |
Board Governance
- Independence: The Board determined all directors other than the CEO are independent; Suri is classified as independent .
- Committee assignments: Audit Committee member; the committee met 9 times in 2024 and oversees financial reporting, audit, compliance with financial laws, and cybersecurity risk with regular briefings .
- Attendance and engagement: The Board held 7 meetings in 2024, and each director attended at least 75% of Board and applicable committee meetings .
- Skills: The Board’s skills matrix identifies depth across information technology/cybersecurity, global markets/international business, M&A, and strategy/innovation—areas aligned with Suri’s background .
- Executive sessions: Independent directors hold regular executive sessions; governance structure includes a Lead Independent Director with defined responsibilities .
- Risk oversight: Enterprise risk management is overseen at the Board and committee levels with regular reports from key functions, including information security .
Fixed Compensation
| Component | Detail | Amount/Value |
|---|---|---|
| Annual cash fees (2024) | Board retainer; committee member (no member fees; chair fees only) | $126,432 (cash) |
| Annual equity (2024) | RSUs granted to each non-employee director on May 9, 2024 | 653 RSUs (target grant value $215,000) |
| Director fee structure (2024 program) | Annual retainer $130,000; Lead Independent Director $40,000; Audit Chair $25,000; other committee chairs $20,000 | Program terms |
| Total 2024 director compensation (Suri) | Cash + RSUs grant-date value | $340,433 (cash $126,432; stock $214,001) |
| Stock ownership guideline | $600,000 within 5 years for non-employee directors | Policy |
Notes:
- The 2024 RSUs vest in May 2025; directors can elect to defer settlement until departure or a future date .
- As of Dec 31, 2024, all non-employee directors were at or above their ownership guideline requirement or projected to be by their targeted compliance date .
Performance Compensation
- Non-employee directors do not receive performance-based pay (no PSUs or performance cash); equity is in time-vesting RSUs. Recoupment and clawback policies apply to incentive-based compensation as required by SEC/NYSE rules .
Other Directorships & Interlocks
| Company | Type | Relationship to SYK | Governance/Conflict Notes |
|---|---|---|---|
| Digicel Group | Telecom | No disclosed related-party transactions with Stryker | None disclosed for Suri; independence affirmed by Board |
| M-KOPA | Fintech | No disclosed related-party transactions with Stryker | None disclosed |
| Singtel | Telecom | No disclosed related-party transactions with Stryker | None disclosed |
| Viasat | Satellite | No disclosed related-party transactions with Stryker; stepped down Mar 2025 | None disclosed |
- Related-party review: The proxy discloses and evaluates related-party transactions; it highlights separate relationships for other directors but none for Suri. The Audit Committee oversees related-party transactions per policy .
Expertise & Qualifications
- Former CEO roles at Inmarsat and Nokia indicate strong global operational, technology, and communications expertise, and experience managing complex regulatory and cybersecurity landscapes—capabilities reflected in the Board’s skills matrix (IT/cybersecurity, global markets, M&A, strategy) .
- Audit Committee experience at Stryker; not designated as an SEC “audit committee financial expert” (those designations are held by Ruggeri and Silvernail) .
Equity Ownership
| Item | Detail | Amount |
|---|---|---|
| Shares owned (beneficial) | Common shares owned directly/indirectly | 5,215 shares |
| RSUs outstanding (Dec 31, 2024) | Includes unvested and deferred RSUs | 653 units |
| Options outstanding | Director stock options outstanding | 0 |
| Ownership as % of outstanding | Per company table | <1% |
| Approx. value of common holdings (12/31/2024) | 5,215 × $360.05 close | ≈ $1.88 million (5,215 × $360.05) |
| Hedging/pledging | Prohibited by insider trading policy | Policy |
Governance Assessment
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Positive signals
- Independent director with relevant technology, global, and cybersecurity oversight experience; sits on Audit Committee (robust engagement—9 meetings in 2024) .
- Strong ownership alignment: ~5,215 shares plus RSUs; approximate value of common shares ~$1.88M as of 12/31/2024, comfortably exceeding the $600k director ownership guideline .
- No Suri-specific related-party transactions disclosed; Board confirms independence .
- Prohibitions on hedging/pledging and formal clawback policies reduce misalignment and reputational risk .
- Board/committee attendance baseline met: each director attended at least 75% of meetings; active committee cadence .
-
Watch items
- Multiple external board/chair roles (Digicel, M-KOPA, Singtel; exited Viasat in March 2025) could present time-commitment considerations; no conflicts disclosed by Stryker .
- Not designated an “audit committee financial expert,” though brings operating and tech/cyber risk perspectives to Audit .
-
Context for investor confidence
- Stryker’s governance includes regular executive sessions, defined Lead Independent Director responsibilities, and majority independent Board, supporting effective oversight .
- Say-on-pay support was ~91% in 2024, reflecting broad shareholder approval of compensation governance (not director-specific but relevant to overall governance quality) .