Copenhagen, Denmark – Coloplast, a global leader in medtech solutions for ostomy, continence, urology, and wound care, has appointed Gavin Wood as its new President and Chief Executive Officer, effective May 1, 2026. The announcement, made on March 4, 2026, marks the end of a ten-month search following the departure of former CEO Kristian Villumsen in May 2025. Wood brings with him two decades of experience in leadership roles within the medical technology sector, most recently serving as Company Group Chairman of Johnson & Johnson MedTech EMEA.
The appointment signals a new chapter for Coloplast, as the company continues to execute its “Impact4” strategy. Jette Nygaard-Andersen, interim Chair of the Coloplast Board of Directors, expressed confidence in Wood’s ability to lead the company forward, citing his “strong commercial profile and valuable experience” as key assets. “Gavin has a strong commercial profile and valuable experience from multiple companies in the MedTech space,” Nygaard-Andersen stated in a press release. “He has led global commercial organisations, and he has an in-depth understanding of both the European and US healthcare markets. The Board is confident that Gavin is the right candidate to lead the company into its next chapter of growth and value creation by delivering on the Impact4 strategy together with the rest of the Executive Leadership Team.”
A Veteran of Johnson & Johnson MedTech
Gavin Wood’s career has been largely defined by his tenure at Johnson & Johnson, spanning twenty years. He most recently held the position of Company Group Chairman for Johnson & Johnson MedTech EMEA, a substantial business encompassing over 7,000 employees and operating across three key units: Surgery, Orthopedics, and Cardiovascular & Specialty Solutions. This role placed him at the helm of a multi-billion-dollar operation, demonstrating his capacity to manage large-scale, complex organizations. Prior to this, Wood served as Worldwide President of the Ethicon Wound Closure & Healing team, further solidifying his expertise in the medical device industry. He also previously held the position of Executive Vice President, Commercial, at Mölnlycke, a Swedish medical device company specializing in wound care and surgical solutions.
Wood’s leadership extends beyond his corporate roles. He currently serves as Vice Chair of the MedTech Europe trade association, indicating his involvement in shaping industry policy and advocating for the interests of medical technology companies across Europe. His educational background includes a Bachelor of Arts degree in Law from Carleton University in Canada and an MBA from Queen’s University, Canada, providing a strong foundation for his strategic and operational leadership.
Transition and Interim Leadership
Wood will succeed Lars Rasmussen, who has served as interim CEO since May 5, 2025. Rasmussen assumed the role following Villumsen’s departure, and Coloplast anticipated filling the position within twelve months. The company’s timeline has been met with Wood’s appointment, ensuring a smooth transition of leadership. Rasmussen will continue in his interim capacity until the end of April 2026, facilitating the handover process. The change in leadership comes as Coloplast navigates a dynamic healthcare landscape and focuses on innovation within its core product areas.
Coloplast’s Core Business and Market Position
Coloplast is a prominent player in the medtech industry, specializing in life-changing care for people with intimate healthcare needs. The company’s product portfolio encompasses ostomy care, continence care, urology care, and wound care solutions. These products are designed to improve the quality of life for individuals facing a range of medical conditions, from bowel and bladder dysfunction to chronic wounds. The company operates globally, serving patients and healthcare professionals in numerous countries.
The global ostomy bags market, a key segment for Coloplast, was valued at approximately $3.4 billion in 2023 and is projected to reach $4.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 3.6% from 2024 to 2032, according to a report by Allied Market Research. This growth is driven by factors such as the increasing prevalence of inflammatory bowel disease (IBD), colorectal cancer, and other conditions requiring ostomy procedures. Similarly, the global wound care market is experiencing significant growth, fueled by an aging population and the rising incidence of chronic diseases like diabetes.
Wood’s Relocation and Future Outlook
Currently residing in Switzerland, Gavin Wood will be relocating to Denmark to assume his new role at Coloplast. This move underscores his commitment to the company and its Danish roots. His appointment is widely viewed as a positive step for Coloplast, bringing in a seasoned executive with a proven track record of success in the medtech industry. Analysts suggest that Wood’s experience in driving growth and innovation will be crucial as Coloplast continues to navigate a competitive market and pursue its strategic objectives.
The company’s “Impact4” strategy, launched in 2023, focuses on four key pillars: leading in targeted solutions, expanding access to care, driving sustainability, and fostering a high-performing culture. Wood’s leadership will be instrumental in accelerating the implementation of this strategy and delivering on its ambitious goals. Coloplast’s commitment to sustainability is particularly noteworthy, with the company setting ambitious targets for reducing its environmental footprint and promoting responsible business practices.
Stakeholder Reactions and Industry Impact
The announcement of Wood’s appointment has been met with positive reactions from industry stakeholders. Analysts at MedTech Dive noted that the ten-month vacancy at the CEO position was filled with a strong candidate, signaling stability and confidence in Coloplast’s future. Investors have also responded favorably, with Coloplast’s stock price showing a modest increase following the announcement.
Wood’s extensive experience in the European and US healthcare markets is expected to be particularly valuable as Coloplast seeks to expand its global reach and address the evolving needs of patients and healthcare providers. His understanding of regulatory landscapes, reimbursement models, and market dynamics will be critical in navigating the complexities of the international healthcare system.
Looking ahead, Coloplast is poised to benefit from Wood’s leadership and strategic vision. The company’s strong market position, coupled with its commitment to innovation and sustainability, positions it for continued success in the years to come. The next key milestone for Coloplast will be the full implementation of the “Impact4” strategy and the achievement of its ambitious growth targets.
The company will be holding an investor call in June 2026 to discuss its second-quarter financial results and provide further insights into its strategic priorities under Wood’s leadership. Readers interested in learning more about Coloplast and its products can visit the company’s website at www.coloplast.com.
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