WAYNE, PA — Teleflex Incorporated (NYSE: TFX) said it recently nominated Michael J. Tokich as an independent director, plans to begin share repurchases ahead of schedule, and will implement board leadership changes following its 2026 annual meeting.
The company said Andrew A. Krakauer will become chairman of the board after the meeting, succeeding Stephen Klasko, who will step down along with director John Heinmiller.
Tokich, a former chief financial officer of STERIS plc, brings more than 30 years of experience in finance and medical technology and currently serves on the board of Mettler-Toledo International.
Teleflex also said it plans to establish a Growth and Operating Committee to support operational execution and identify expansion opportunities, with members to be appointed after the annual meeting.
The company expects to begin share repurchases in the second quarter under its existing $1 billion authorization, ahead of the previously anticipated timeline tied to pending divestiture transactions.
“Our Board continues to believe that Teleflex’s current stock price does not fully reflect the significance of the strategic actions underway,” Klasko said.
The company said previously announced sales of its OEM, Acute Care, and Interventional Urology businesses remain on track to close in the second half of 2026.
Interim Chief Executive Officer Stu Randle said Klasko and Heinmiller contributed to the company’s strategy and governance during their tenure.
Teleflex develops and manufactures medical technologies used in areas including anesthesia, emergency medicine, interventional procedures, and urology.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News.