BD appoints Gregory J. Hayes to its board of directors

FRANKLIN LAKES, N.J. - BD (Becton, Dickinson and Company) (NYSE: BDX), a global medical technology firm with a market capitalization of $65.7 billion and annual revenue of $20.64 billion, announced the addition of Gregory J. Hayes to its board of directors, effective Wednesday. According to InvestingPro data, BD maintains a GOOD financial health score and is currently trading near its 52-week low, suggesting potential value opportunity for investors. Hayes, with over three decades of executive experience, is the current executive chairman of RTX Corporation, a leading aerospace and defense company.

Hayes’ expertise spans CEO and senior leadership roles, with a focus on finance, corporate strategy, and business development. His history includes steering large businesses through significant changes such as mergers, acquisitions, and spinoffs. His appointment reflects BD’s commitment to robust corporate governance and board rejuvenation, marking the fourth independent director added since 2021.

Tom Polen, chairman, CEO, and president of BD, highlighted Hayes’ alignment with BD’s operational goals and culture of continuous improvement. Polen anticipates that Hayes will play a crucial role during BD’s strategic transformation, which includes the separation of its Diagnostic Solutions and Biosciences business and the establishment of ’New BD’ as a standalone medical technology leader. The company’s solid financial foundation, with revenue growth of 5.89% and consistent dividend payments for 54 consecutive years, provides a strong platform for this transformation.

Hayes previously served as the CEO of United Technologies Corporation (UTC), where he played a pivotal role in the formation of RTX through the merger of UTC’s aerospace businesses with Raytheon Company. He also has a seat on the board of directors for Phillips 66 Company.

Hayes expressed his eagerness to contribute to BD’s future, leveraging his experience to oversee the company’s planned separation and to position ’New BD’ for innovation, growth, and sustainable value for stakeholders.

BD is recognized as a significant player in the medical technology industry, supporting health care professionals with innovative solutions designed to improve patient care and clinical processes. With a workforce exceeding 70,000 employees, BD operates globally, partnering with various organizations to tackle pressing health issues.

This announcement is based on a press release statement from BD.

In other recent news, BD (Becton, Dickinson and Company) has announced the commencement of a clinical trial for its GalaFLEX LITE™ Scaffold, a device intended to reduce the recurrence of capsular contracture in breast revision surgeries. This trial is a crucial step toward obtaining Premarket Approval from the FDA. Additionally, BD’s board has approved a plan to separate its Biosciences and Diagnostic Solutions business, aiming to enhance strategic focus and growth opportunities for both entities. The separation is part of BD’s broader strategy to unlock shareholder value and position itself as a leader in medical technology. In another development, activist investor Starboard Value has acquired a stake in BD, reportedly pushing for the sale of its life sciences division. Meanwhile, BD’s shareholders have approved all board nominees and ratified the appointment of Ernst & Young as the independent auditor for fiscal year 2025. The company also declared a quarterly dividend of $1.04 per share and authorized the repurchase of up to 10 million shares, reflecting its commitment to returning capital to shareholders. These developments highlight BD’s ongoing efforts to optimize its business operations and enhance shareholder value.

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