Wayne-based Teleflex is undergoing a leadership transition with CEO Liam Kelly stepping down and Dr. Stephen Klasko, former Jefferson Health chief, appointed as the medical device company’s new board chairman, writes John George for the Philadelphia Business Journal.
Kelly recently left his roles as both chairman and CEO of Teleflex, with no explanation provided by the company. Stuart Randle, who has been on Teleflex’s board since 2009, will serve as interim CEO effective immediately.
Executive search firm Spencer Stuart has been retained to assist in the search for the permanent CEO.
The leadership transition follows two deals announced a month ago in which Teleflex agreed to sell three of its business divisions to two separate buyers for $2.03 billion in total. The manufacturer business will be sold to a Montagu of London and Kohlberg of New York partnership for $1.5 billion.
Meanwhile, its acute care and interventional urology businesses will go to Intersurgical Ltd., headquartered in the United Kingdom, for $530 million.
The deals are expected to close in the second half of 2026, ending a previously conceived plan to split the company.
“Teleflex is entering its next phase as a more focused, higher-growth organization,” said Klasko at the time.
Read more about Teleflex transitioning into different leadership in the Philadelphia Business Journal.
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Dr. Stephen Klasko gave a TED talk about the future of healthcare.
