BD CFO Chris DelOrefice to Depart Amid Q4 Revenue Disappointment and Pending Business Separation

Becton, Dickinson and Company (BD) announced on Wednesday that Chief Financial Officer Chris DelOrefice will be leaving the company on December 5 to pursue another professional opportunity. This news comes alongside the release of preliminary fourth-quarter revenue figures that fell short of analysts' expectations, signaling potential challenges for the medical technology giant.

Leadership Transition and Financial Performance

Chris DelOrefice, who joined BD in 2021 after nearly two decades at Johnson & Johnson, informed the company of his intention to resign on October 9. He will be taking on the role of CFO at Ulta Beauty. BD has initiated a search for a permanent successor and has appointed Vitor Roque, senior vice president of finance, business units and corporate financial planning and analysis, as interim CFO.

CEO Tom Polen expressed confidence in Roque's ability to serve as interim CFO, citing his "strong finance and leadership capabilities" and two decades of experience with the company. BD emphasized that DelOrefice's departure is not related to any disagreements regarding financial statements, reporting, operations, policies, or practices.

Concurrent with the leadership announcement, BD released preliminary fiscal fourth-quarter revenue figures of approximately $5.9 billion, representing an 8.3% year-over-year increase. For the full fiscal year 2025, the company reported preliminary revenue of about $21.8 billion, up 8.2% from the previous year.

Despite the growth, Stifel analysts characterized the fourth-quarter results as "disappointing" and below consensus expectations. Polen acknowledged that the "dynamic macro environment" had a greater impact than anticipated, particularly affecting vaccines and academic and government research sectors. However, he noted strong growth in the company's interventional, patient monitoring, and medication delivery businesses.

Strategic Realignment and Future Outlook

BD is in the midst of a significant strategic shift, planning to separate its biosciences and diagnostics business from the rest of the company. This separated entity is set to combine with Waters Corporation in a deal valued at approximately $17.5 billion, as announced in July.

The company plans to provide a more comprehensive discussion of its fiscal fourth-quarter and full-year earnings during a call scheduled for November 6. This upcoming presentation will likely offer more insights into the company's performance, the impact of DelOrefice's departure, and the progress of the pending business separation.

As BD navigates these changes, the medical technology industry will be watching closely to see how the company addresses the challenges highlighted in its preliminary fourth-quarter results and positions itself for future growth in an increasingly competitive market.