- Varian (NYSE:VAR) CEO Dow Wilson will retire following the Siemens Healthineers AG's (OTCPK:SMMNY) acquisition of the company in a previously announced $16.4B deal.
- Chris Toth, currently president and COO of Variant, will succeed Wilson, who will become CEO of the new Variant business segment under Siemens Healthineers.
- Wilson will stay on as a special advisor for a period to assist in the integration of the two companies.
- The acquisition, which is currently under European Union review, is expected to close in the first half of the year.
- Varian shares are unchanged at $175.91 in morning trading.