Danaher announces chief executive transition

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Danaher announced on May 6 that Executive Vice President Rainer Blair will succeed Thomas Joyce Jr. as president and CEO when Joyce retires on September 1.

Joyce has served as Danaher's president and CEO since 2014 and joined the company in 1989. Blair has led Danaher's life sciences segment, growing annual revenues from $2.4 billion in 2015 to about $10 billion this year. Blair joined Danaher in 2010.

In other news, Danaher reported financial results for the first quarter of 2020 (end-April 3). The company posted revenues of $4.343 billion, up 3% from sales of $4.220 billion in the first quarter of 2019. The company posted net income of $595.1 million, compared with earnings of $333.8 million in the same period the year before.

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