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# Fresenius Medical Care Picks Board Member Korangy As CEO, Saying Next Phase Needs 'A Different Leadership Profile'
- URL: https://www.bullished.co/fresenius-medical-care-picks-board-member-korangy-as-ceo-saying-next-phase-needs-a-081d2fec/
- Published: 2026-10-07T18:36:52.000Z
- Updated: 2026-10-07T18:36:52.000Z
- Description: The Supervisory Board unanimously chose Shervin Korangy to succeed Helen Giza, with the switch taking effect October 12.
- Author: Matteo Parrino
- Tags: SEC Filings, FMS, Industry: Healthcare

Fresenius Medical Care named Shervin J. Korangy, 51, [chief executive](https://www.sec.gov/Archives/edgar/data/1333141/000110465926114302/tm2627207d1%5Fex99-1.htm?ref=bullished.co) effective October 12, 2026, replacing Helen Giza, 58, according to a statement the company furnished to the SEC on Wednesday. Korangy has sat on the company's Supervisory Board since 2023, and the board's chairman said the next phase "will benefit from a different leadership profile."

## What the statement says

The Supervisory Board appointed Korangy unanimously as CEO and Chair of the Management Board. Giza has held the CEO job for four years, after three years as chief financial officer.

The company credits Giza with the [FME25+ transformation program](https://www.prnewswire.com/news-releases/shervin-j-korangy-appointed-ceo-of-fresenius-medical-care-to-lead-the-next-phase-of-strategic-development-and-long-term-profitable-growth-302901324.html?ref=bullished.co), which it says reshaped the organization, streamlined processes and cut the cost base by around EUR 1.2 billion.

Supervisory Board Chairman Michael Sen said the company "has reached an important strategic inflection point." He added that the transformation of recent years "has largely achieved its objectives." Sen called Korangy "the natural choice," citing his healthcare leadership, operational transformation and capital allocation expertise.

Giza said in the statement that she believes "this is the right time to hand over to Shervin."

## Who Korangy is

Korangy was most recently president and CEO of BVI Medical, which he led from 2017 to 2026 and which the company describes as an ophthalmology-focused medical technology platform. He stepped down in January 2026 and then served as a senior advisor to BVI and TPG Capital.

Earlier, he held roles at Novartis, including Global Head of Corporate Finance, and spent over 14 years at Blackstone, finishing as a Managing Director. He is also a co-founder of Sight Sciences.

Korangy said he feels responsibility to the ["almost 110,000 employees"](https://www.prnewswire.com/news-releases/shervin-j-korangy-appointed-ceo-of-fresenius-medical-care-to-lead-the-next-phase-of-strategic-development-and-long-term-profitable-growth-302901324.html?ref=bullished.co) at the company and to the hundreds of thousands of patients it serves.

## What changes for holders

FMS shares traded at $20.82 in Wednesday trading, as of 2:34 p.m. ET, down 7.14% from the prior close of $22.42\. The company's market value stood at $11.9 billion at that point.

Korangy has resigned from the Supervisory Board to take the job. The company named Ann Custin, whom it describes as having almost 40 years of healthcare management experience, as the successor it identified for that seat. Court proceedings to appoint her until the end of the current term will be initiated in due course.

Korangy takes over on October 12, and the court proceedings to seat Custin on the Supervisory Board have no date yet.

### Sources

- [Form 6-K — Shervin J. Korangy appointed CEO of Fresenius Medical Care to lead the next phase of strategic development and long-term profitable growth Bad](https://www.sec.gov/Archives/edgar/data/1333141/000110465926114302/tm2627207d1%5Fex99-1.htm?ref=bullished.co) — SEC EDGAR
- [https://seekingalpha.com/news/4651078-fresenius-names-shervin-korangy-ceo](https://seekingalpha.com/news/4651078-fresenius-names-shervin-korangy-ceo?ref=bullished.co) — seekingalpha.com
- [Fresenius Medical Care: Margin Expansion Supports The Story, Growth Remains Limited (FMS) | Seeking Alpha](https://seekingalpha.com/article/4952516-fresenius-medical-care-margin-expansion-supports-the-story-but-growth-remains-limited?ref=bullished.co) — seekingalpha.com
- [Shervin J. Korangy appointed CEO of Fresenius Medical Care to lead the next phase of strategic development and long-term profitable growth](https://www.prnewswire.com/news-releases/shervin-j-korangy-appointed-ceo-of-fresenius-medical-care-to-lead-the-next-phase-of-strategic-development-and-long-term-profitable-growth-302901324.html?ref=bullished.co) — prnewswire.com
- [Shervin J. Korangy appointed CEO of Fresenius Medical Care to lead the next phase of strategic development and long-term profitable growth – Company Announcement - FT.com](https://markets.ft.com/data/announce/detail?dockey=600-202610071128PR%5FNEWS%5FUSPRX%5F%5F%5F%5FNE65963-1&ref=bullished.co) — Financial Times