Devdatt Kurdikar
ZIMMER BIOMET HOLDINGSAbout Devdatt Kurdikar
Devdatt (Dev) Kurdikar, age 56, is President & CEO of Embecta Corp. and has served as an independent director of Zimmer Biomet since June 20, 2024; he sits on the Compensation & Management Development (C&MD) and Corporate Governance (CG) committees, and was determined by the Board to be independent under NYSE standards . He holds a B.S. in Chemical Engineering (University of Bombay), an M.S. in Chemical Engineering (Washington State University), a Ph.D. in Chemical Engineering (Purdue University), and an MBA (Washington University) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Embecta (spun out of BD) | President & CEO | Since April 2022 | CEO experience in medical devices and connected devices; global operations and regulatory |
| Becton, Dickinson (BD) | Worldwide President, Diabetes Care | 2021–April 2022 | Led diabetes care business pre-spin; regulatory and compliance |
| Cardiac Science | President & CEO | 2016–2019 | Turnaround/operational leadership in med-tech |
| Boston Scientific | VP & GM, Men’s Health | 2015–2016 | Integration leadership post-carve-out; portfolio management |
| American Medical Systems (AMS) | VP & GM, Men’s Health | Starting in 2013; led carve-out, sale, integration into Boston Scientific | Carve-out/M&A execution |
| Baxter International | Finance, strategy/integration, R&D planning/operations; VP, Marketing | 11 years; VP Marketing 2011–2013 | Strategy and marketing leadership; enterprise risk experience |
| Monsanto | Senior Research Engineer | Early career | Technical foundation |
External Roles
| Organization | Role | Public Company | Tenure/Notes |
|---|---|---|---|
| Embecta Corp. | President & CEO; Director | Yes | Since April 2022; other public board listed as Embecta |
| AdvaMed | Director | No | Industry association; supports policy and standards |
| Interlock (AdvaMed) | Shared association board with Michael J. Farrell (ResMed CEO; AdvaMed Chair-elect) | — | Farrell serves on AdvaMed; association-level interlock may influence industry information flow |
Board Governance
- Committee memberships: C&MD (member) and CG (member). Not a committee chair .
- Attendance and engagement: In 2024 the Board met 6 times and committees met 22 times; all directors attended 75% or more of meetings and all standing directors then up for election attended the 2024 annual meeting .
- Independence: Board determined Kurdikar is independent; CEO director is not independent .
- Executive sessions: Independent directors meet in executive session at each regularly scheduled Board meeting .
| Committee | Role | 2024 Meetings |
|---|---|---|
| Compensation & Management Development | Member | 4 |
| Corporate Governance | Member | 6 |
Fixed Compensation
| Year | Fees Earned or Paid in Cash ($) | Stock Awards ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|---|
| 2024 | 82,500 | 41,250 | 61 | 123,811 |
- Director pay structure: Annual director retainer $110,000; chair retainers: Audit $25,000, C&MD $20,000, other standing committee chairs $15,000; non-executive Chair retainer $130,000; Lead Independent Director retainer $40,000 (DSUs), effective May 29, 2025 .
- No hedging/pledging: Directors prohibited from hedging, short sales, or pledging ZBH stock under the Stock Trading Policy .
Performance Compensation
| Equity Type | Grant Value to Kurdikar (2024) | Vesting / Deferral | Performance Link |
|---|---|---|---|
| RSUs | None granted in 2024 | For other directors: RSUs granted May 10, 2024 vest immediately but settlement deferred until May 10, 2027 or later; settled in shares | Time-based; no performance metrics for director RSUs |
| DSUs (mandatory deferral) | 41,250 | Annual DSUs of $75,000 to directors elected/re-elected at the annual meeting; plus mandatory deferral of 50% of annual retainer as DSUs; DSUs settle in shares at end of service | Not performance-based; value tracks stock price |
- Director equity alignment: Independent director equity compensation is not paid out until cessation of service, enhancing long-term alignment .
Other Directorships & Interlocks
| Company/Body | Role | Committee Roles (if disclosed) | Interlock / Conflict Notes |
|---|---|---|---|
| Embecta Corp. | Director | Not disclosed | CEO of Embecta; Board limits allow up to three total public boards for executives; Kurdikar appears within limits |
| AdvaMed | Director | Not disclosed | Association interlock with Michael J. Farrell (ResMed CEO; AdvaMed Chair-elect) |
Expertise & Qualifications
- Senior med-tech leadership (CEO experience; connected medical devices; global operations/manufacturing; cybersecurity; risk/crisis; regulatory/compliance; investor relations) .
- Education: B.S. Chemical Engineering (Bombay), M.S. Chemical Engineering (Washington State), Ph.D. Chemical Engineering (Purdue), MBA (Washington University) .
Equity Ownership
| Holder | Total Beneficial Ownership (shares) | Shares Acquirable in 60 Days | Deferred Share Units | Percent of Class | Pledged Shares |
|---|---|---|---|---|---|
| Devdatt Kurdikar | 385 | — | 385 | <1% | None pledged (per footnote) |
- Table based on 199,090,959 shares outstanding as of January 1, 2025; includes DSUs and shares acquirable within 60 days per SEC beneficial ownership rules .
Governance Assessment
- Committee contributions: Kurdikar’s operating and regulatory expertise align with C&MD (human capital/compensation risk oversight) and CG (ESG/governance, board refresh, independence assessments) .
- Independence and attendance: Board affirmed independence; attendance thresholds met, supporting investor confidence .
- Alignment mechanisms: Mandatory DSU deferrals and prohibition on hedging/pledging improve long-term alignment and reduce risk of misaligned incentives .
- Compensation consultant oversight: Semler Brossy advises C&MD; committee found no risky design features; members (including Kurdikar) had no relationships requiring Item 404 disclosure, mitigating consultant conflicts .
- Potential conflicts/RED FLAGS:
- Sitting CEO of another public med-tech (Embecta) increases time-commitment and potential industry conflicts; Zimmer Biomet’s guidelines cap executive directors at three public boards, and Audit Committee reviews all related person transactions—none disclosed for directors, reducing conflict risk .
- AdvaMed interlock with ResMed CEO (Farrell) at association level could influence information flow; not a related-party transaction but worth monitoring for competitive sensitivities .
- Board structure: Independent committees; regular executive sessions; majority voting and director resignation policy; robust governance policies and clawback on incentive compensation enhance accountability .