Fresenius Medical Care names Shervin Korangy as new CEO

Fresenius Medical Care (NYSE: FMS) announced that Shervin J. Korangy, 51, will become Chief Executive Officer and Chair of the Management Board, effective October 12, 2026, succeeding Helen Giza, who served as CEO for four years after three years as CFO.

The Supervisory Board unanimously appointed Korangy, who had been a member of FME's Supervisory Board since 2023. He resigned from that position upon his appointment as CEO.

Korangy most recently served as President and CEO of BVI Medical, an ophthalmology-focused medical technology company, from 2017 to 2026. Before BVI Medical, he held senior executive roles at Novartis Group AG, spanning medical devices, consumer healthcare, and pharmaceuticals, including Global Head of Corporate Finance. He began his career at Blackstone, where he spent over 14 years, most recently as Managing Director. He holds a Bachelor of Science in Economics from the Wharton School of the University of Pennsylvania.

During Giza's tenure, FME implemented its FME25+ transformation program, which the company said reduced its cost base by approximately €1.2 billion.

Michael Sen, Chairman of the Supervisory Board, said: "Fresenius Medical Care has reached an important strategic inflection point. The transformation of recent years has largely achieved its objectives, and the next phase of growth will benefit from a different leadership profile."

Korangy said his focus will be on "identifying opportunities to accelerate innovation, expand access to care, improve outcomes and drive long-term profitable growth."

The Supervisory Board identified Ann Custin as Korangy's replacement on the board. Custin has approximately 40 years of experience in the global healthcare sector. Court proceedings to formally appoint her will be initiated in due course.

Fresenius Medical Care operates 3,513 dialysis clinics and provides treatments for approximately 290,000 patients globally, according to the company's press release.

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