Stryker Chair and CEO Kevin Lobo [Photo courtesy of Stryker]
Median employee pay dropped for the second consecutive year, while executive compensation decreased due to lower cash performance bonuses and option awards.
Stryker was the world’s fifth-largest medical device company in our 2025 Medtech Big 100 ranking by revenue, with $22.6 billion in revenue for 2024. Stryker reported sales of $25.1 billion for 2025, up 11% from the year before.
The medtech giant acquired Inari Medical for $4.9 billion in February 2025 and sold its U.S. spine implants business in April 2025 to the Viscogliosi Brothers investment firm.
Recruiting and retaining top talent — both at the executive and engineering level — is crucial in the medtech industry, but employee compensation is kept secret in most cases. Medical Design & Outsourcing tracks and analyzes these pay figures when disclosed by major device developers and manufacturers.
Related: Stryker Medical President Jessica Mathieson’s advice for moving up in medtech
Stryker executive pay
Stryker President and Chief Operating Officer Spencer Stiles [Photo courtesy of Stryker]
Stryker Chair and CEO Kevin Lobo Received $21.4 million in total compensation for 2025, down 3% from $22 million the year before. Lobo’s 2025 compensation included a $1.5 million salary, $9.8 million in stock awards, options awards of $6.9 million and a $2.3 million cash performance bonus.
Lobo received other compensation equal to $974,911, including $474,033 for personal and family flights aboard corporate aircraft, $450,821 for supplemental plan contributions and $36,250 in 401(k) matching contributions.
In addition to the roles of chair and CEO, Lobo was also president until January 2026, when Stryker promoted Orthopaedics Group President Spencer Stiles to companywide president and chief operating officer.
Stryker Medsurg and Neurotech President Andy Pierce [Photo courtesy of Stryker]
As Orthopaedics Group President, Stiles received $6.3 million in total compensation for 2025, down 7% from $6.8 million the year before.
Stiles’ 2025 compensation included a $792,500 salary, $2.7 million in stock awards, option awards of $1.9 million, a $760,000 cash performance bonus and $188,081 in other compensation.
Stryker MedSurg and Neurotechnology Group President Andy Pierce received $6.3 million in total compensation for 2025, down 7% from $6.8 million the year before.
Stryker Global Quality and Operations Group President Viju Menon [Photo courtesy of Stryker]
Stryker Global Quality and Operations Group President Viju Menon received total compensation of $4.2 million in 2025, down 8% from $4.6 million the year before.
Menon’s 2025 compensation included a $675,000 salary, $1.6 million in stock awards, option awards of $1.2 million, a $578,000 cash performance bonus and $167,476 in other compensation.
Former Stryker VP and CFO Glenn Boehnlein received $1.9 million in compensation for 2025. Boehnlein retired from his role on April 1, 2025 and served as an advisor to the CEO from his retirement through March 2026.
Former Stryker CFO Glenn Boehnlein [Photo courtesy of Stryker]
Stryker promoted then-VP and Orthopaedics CFO Preston Wells to fill Boehnlein’s role as VP and CFO. Wells received $4.4 million in compensation for 2025. His compensation included a $653,431 salary, $1.8 million in stock awards, option awards of $1.3 million, a $514,558 cash performance bonus and $103,339 in other compensation.
Wells’ prior-year compensation was not disclosed.
Stryker VP and CFO Preston Wells [Photo courtesy of Stryker]
Stryker’s median worker pay and CEO pay ratio
The SEC requires publicly traded companies to calculate the gap between CEO compensation and pay for its median employee.
Stryker reported median employee compensation of $81,018, down 3% from $83,642 the year before.
The latest median employee pay figure put Stryker’s CEO pay at 264 times more than its median employee’s pay. That pay gap widened slightly from 263:1 the year before.
Stryker didn’t identify the median employee by job title but said it used the same median employee as the previous year since there was not a meaningful change to the company’s employee population or employee compensation agreements.
At other medtech companies that offer more details about their median workers than required by the SEC pay disclosure rules, those median medtech workers often hold technical roles such as device design or engineering.
Stryker investors will cast advisory “say-on-pay” votes on the company’s executive compensation practices at its May 6, 2026 annual meeting. Shareholders overwhelmingly voted in support of the company’s executive pay the year before.
More medtech compensation analysis for CEOs, top-paid executives and median workers
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