Alcon, a global leader in eye care and a division of Novartis, reports on a press release published on April 2, 2019 that Timothy C. Stonesifer (“Tim”) will join the company as its new Senior Vice President and Chief Financial Officer (CFO), in conjunction with the company’s April 9 spinoff from Novartis. He will report directly to David Endicott, Alcon’s Chief Executive Officer, and become a member of the Executive Committee of Alcon.
David Murray, Alcon’s current CFO, has decided for family reasons to return to Europe and remain with Novartis, where he has served in various finance leadership roles since 2001. “[Tim] is an outstanding addition to our leadership team, bringing extraordinary financial acumen and deep experience in capital markets transactions, having served as CFO for numerous companies,” said David Endicott, Alcon’s Chief Executive Officer.
Tim is a seasoned executive who joins Alcon with over 29 years of global financial and operational experience. He was most recently with Hewlett Packard Enterprises (HPE), where he served as Executive Vice President and CFO. During his tenure, Tim executed two spin merge transactions valued at over $20B, completed 11 acquisitions to accelerate the company strategy and developed and implemented a financial architecture that delivered significant value to shareholders. Prior to his time at HPE, Tim spent 3 years in Shanghai, China, as the CFO of General Motors International Operations and also spent 18 years at General Electric in a variety of finance roles.
“I am excited to join the exceptional team at Alcon,” said Tim. “For more than 70 years, Alcon has been synonymous with eye care. We share a passion for serving customers and a vision for delivering innovative products that will continue to shape the industry while driving profitable growth.”