Europe · Business news · Corporate · 07 Oct 2026
EU Health Care
German dialysis group Fresenius Medical Care said Shervin Korangy takes over as chief executive on October 12, 2026, succeeding Helen Giza, who led the company for four years. Korangy, 51, previously ran BVI Medical, has sat on the supervisory board since 2023, and earlier held senior roles at Novartis and spent more than 14 years at Blackstone. Supervisory board chair Michael Sen said the company had reached a strategic inflection point. The company's US-listed shares fell nearly 7% on October 7.
Fresenius Medical Care runs 3,513 dialysis clinics treating about 290,000 patients, and under Giza it finished a programme that took about €1.2 billion out of its cost base. The change comes with five days' notice, which leaves shareholders without a stated plan from the new chief executive until he speaks. What is exposed is the direction after cost-cutting: how capital is split between clinics and the products business, and how the company handles US reimbursement, its largest revenue source. Parent shareholder Fresenius SE and rival dialysis provider DaVita are the listed companies most closely linked to it.
Reported by Investing.com — “Fresenius Medical Care tumbles on CEO transition announcement” ↗ on 07 Oct 2026.
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