Implant maker Stryker Corp. said Friday that Chairman John W. Brown will retire at the end of the year, according to Associated Press.
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Brown joined the company in 1977 as president and CEO and maintained those positions until 2003. He has been chairman of the board of directors since 1981.
Stephen P. MacMillan, 45, Stryker's president and CEO, has been appointed chairman and will take the position Jan. 1.
Shares of Stryker closed at $47.24 Thursday.
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