Shervin J. Korangy Appointed CEO of Fresenius Medical Care to Drive Strategic Growth and Long-Term Profitability
Fresenius Medical Care (FME), a global provider of products and services for people living with renal diseases, has announced a leadership transition that is expected to guide the company into its next phase of strategic development and long-term profitable growth. Shervin J. Korangy, 51, will become Chief Executive Officer (CEO) and Chair of the Management Board, effective October 12, 2026.
Korangy will succeed Helen Giza, 58, who has served as CEO and Chair of the Management Board for the past four years after previously spending three years as Chief Financial Officer. The Supervisory Board unanimously approved Korangy’s appointment, marking a significant leadership change for the company as it moves beyond a major period of operational transformation.
The transition comes after several years of restructuring and efficiency initiatives under Giza’s leadership. During her tenure, Fresenius Medical Care implemented its FME25+ transformation program, optimized its business portfolio, streamlined organizational structures and processes, and reduced its cost base by approximately €1.2 billion.
With those initiatives providing a stronger financial and operational foundation, the company is now preparing to shift its focus toward growth. Fresenius Medical Care said its next strategic phase will emphasize accelerating profitable growth, strengthening its market position, advancing innovation and creating sustainable value for patients, customers and shareholders.
Leadership Transition Marks a New Strategic Phase
The appointment of Korangy comes at an important point in Fresenius Medical Care’s development. The company has spent recent years concentrating on operational improvements and strengthening its financial resilience. The FME25+ transformation program was central to that effort, helping the organization simplify its structure, improve efficiency and establish a more sustainable cost base.
Under Giza’s leadership, the company focused heavily on addressing operational and financial priorities. The resulting changes have positioned Fresenius Medical Care to approach its next phase with a more streamlined organization and stronger foundation.
The company now intends to build on those achievements rather than simply continuing the same transformation agenda. Its priorities will increasingly include business expansion, innovation, access to renal care, improved patient outcomes and sustainable financial performance.
Michael Sen, Chairman of the Supervisory Board of Fresenius Medical Care AG, thanked Giza for her contribution and leadership over the past seven years, including her time as CFO and CEO.
According to Sen, the company has reached an important strategic inflection point following the completion of many of the objectives associated with its transformation. He said the next stage requires a leadership profile capable of combining growth ambitions with operational discipline and strategic execution.
Sen also highlighted Korangy’s experience in healthcare, operational transformation, international business expansion and capital allocation. His previous work with the Fresenius Medical Care Supervisory Board has also given him familiarity with the company’s business, strategic environment and opportunities.
Shervin Korangy Brings Healthcare and Life Sciences Experience
Korangy brings extensive international experience across healthcare, life sciences, medical technology and investment management. His career includes leadership positions at major healthcare organizations as well as experience in private equity and corporate finance.
Before joining Fresenius Medical Care, Korangy served as President and CEO of BVI Medical, a U.S.-headquartered medical technology company focused on surgical eye care. During nearly a decade with BVI, from 2017 to 2026, he helped transform the business into an ophthalmology-focused MedTech platform with products reaching almost 90 countries.
His tenure at BVI included international expansion, portfolio development, innovation and the addition of new strategic product categories. The company also developed a broader pipeline of products and expanded its presence in markets around the world.
Korangy stepped down from BVI in January 2026 and subsequently served as a senior advisor to BVI and TPG Capital.
His healthcare experience extends beyond medical technology. Before BVI, he held senior executive positions at Novartis Group AG, one of the world’s major healthcare companies. His responsibilities at Novartis included country and regional commercial roles covering medical devices, consumer healthcare and pharmaceuticals, as well as serving as Global Head of Corporate Finance.
Earlier in his career, Korangy spent more than 14 years at Blackstone, where he worked across the firm’s Restructuring/Special Situations and Private Equity businesses. He most recently served as a Managing Director.
Korangy has also been involved in entrepreneurship and medical technology. He is a co-founder of Sight Sciences, a growth-stage medical device company focused on glaucoma and dry eye treatment.
Existing Knowledge of Fresenius Medical Care
Korangy’s appointment also reflects his existing relationship with Fresenius Medical Care. He has served as a member of the company’s Supervisory Board since 2023, giving him several years of exposure to the company’s operations, strategic priorities and industry environment.
This experience is expected to provide continuity as he moves from an oversight role into executive leadership.
His familiarity with Fresenius Medical Care’s dialysis business and its strategic context means he enters the CEO role with an understanding of the company’s existing foundation while also bringing an external perspective shaped by his broader healthcare and investment experience.
The company said Korangy will work closely with the management team and employees across the organization to build on the progress achieved through FME25+ and develop the next stage of its growth strategy.
Focus on Innovation and Patient Care
In his first comments following the appointment, Korangy emphasized the responsibility associated with leading a company that serves hundreds of thousands of patients and employs almost 110,000 people worldwide.
He said healthcare is undergoing rapid change, with patient needs and care delivery models continuing to evolve. Against that backdrop, he identified innovation, expanded access to care and improved outcomes as important priorities for Fresenius Medical Care.
The company operates across a global renal-care ecosystem, providing both products and services supporting people with kidney disease. Its scale gives it opportunities to develop and implement new approaches across multiple markets.
Korangy’s stated priorities suggest that innovation will be closely linked to business growth and patient outcomes. Rather than treating growth and healthcare delivery as separate objectives, the company intends to pursue opportunities that can strengthen its market position while improving the experience and care available to patients.
He also emphasized the importance of listening to stakeholders, including employees, patients and customers, as the company develops its next phase.
FME25+ Creates Foundation for Growth
One of the central elements of the leadership transition is the progress made through FME25+.
The transformation program was designed to reshape Fresenius Medical Care’s organizational model, streamline processes and reduce costs. The company estimates that these initiatives reduced its cost base by approximately €1.2 billion.
The transformation also contributed to a more efficient organizational structure and improved profitability. By optimizing its portfolio and strengthening its financial foundation, Fresenius Medical Care now has greater scope to focus on longer-term strategic opportunities.
Giza described the company at the time of the leadership transition as more resilient, with an optimized portfolio, more efficient structures and processes, improved profitability and a stronger financial position.
She also pointed to innovation and improved outcomes for patients as important elements of the company’s progress during her tenure.
Giza said she believes the timing is appropriate for Korangy to take over leadership and guide the company into its next strategic phase alongside its management and leadership teams.
Transition at the Supervisory Board
Korangy’s appointment as CEO also requires a change to Fresenius Medical Care’s Supervisory Board.
Because he is moving into the CEO role, Korangy has resigned from his position as a member of the Supervisory Board. The company has identified Ann Custin as a highly qualified successor.
Custin brings almost four decades of management experience in the global healthcare sector. Her background includes financial and digital expertise as well as knowledge of supply chain operations.
Fresenius Medical Care said court proceedings for Custin’s appointment will be initiated in due course, with the appointment intended to run through the end of the current Supervisory Board term.
The change is designed to maintain a strong level of healthcare, financial and operational expertise within the Supervisory Board as the company enters its next phase.
Korangy’s Career Across Healthcare and Finance
Korangy’s career combines experience that spans healthcare operations, medical technology, pharmaceuticals, corporate finance, private equity and restructuring.
At BVI Medical, his work centered on transforming a specialized surgical eye-care company into a broader international MedTech platform. The business expanded its geographical reach, strengthened its product portfolio and developed new opportunities in ophthalmology.
His experience at Novartis added exposure to pharmaceutical and medical-device businesses as well as commercial operations in different regions. His role as Global Head of Corporate Finance also provided experience in financial strategy and corporate decision-making.
His more than 14 years at Blackstone gave him another dimension of experience, particularly in restructuring, special situations and private equity. This combination of operational and financial experience is relevant to Fresenius Medical Care as it seeks to balance investment in growth and innovation with continued financial discipline.
His board experience also includes positions with companies such as BVI Medical, Hain Celestial, Motus GI, Pelican Rouge Group and Pinnacle Foods Group.
In addition, Korangy has maintained an association with the University of Pennsylvania’s Wharton School. He has served on the school’s Undergraduate Board since 2024 and previously served on the McNulty Leadership Advisory Board.
He holds a Bachelor of Science in Economics from the Wharton School of the University of Pennsylvania, with concentrations in Management and Finance.
The CEO transition represents more than a change in leadership for Fresenius Medical Care. It marks the company’s movement from a period dominated by transformation and efficiency initiatives toward a strategy increasingly centered on sustainable growth.
The company enters this phase with a global workforce of almost 110,000 employees and a large international patient base. Its existing scale, market presence and experience in renal care provide a platform from which the new leadership team can pursue further development.
Korangy is expected to build on the operational improvements achieved during Giza’s tenure while bringing a stronger emphasis on growth, innovation and strategic expansion.
The company’s priorities will include identifying new opportunities in renal care, strengthening its market leadership, expanding access to treatment, improving patient outcomes and generating sustainable returns for shareholders.
At the same time, the healthcare environment continues to evolve. Changes in patient expectations, care delivery models, technology and healthcare economics are creating new opportunities as well as challenges for providers and healthcare companies.
For Fresenius Medical Care, the ability to respond to those changes while maintaining operational discipline will be central to its next phase.
With Korangy assuming the CEO and Chair of the Management Board positions on October 12, 2026, the company is entering that phase with a leadership team focused on turning the foundation created through FME25+ into a platform for future growth.
The leadership transition therefore represents a strategic handoff: Giza leaves behind a company that has undergone significant restructuring and cost transformation, while Korangy takes responsibility for translating that stronger foundation into innovation, expansion and long-term profitable growth.
For patients, customers, employees and investors, the coming years will provide an important test of how effectively Fresenius Medical Care can combine its global scale and renal-care expertise with new approaches to healthcare delivery and business development. Under Korangy’s leadership, the company has set its sights on accelerating that next chapter while maintaining its focus on the people it serves.
Source link: https://freseniusmedicalcare.com/
