Fresenius Medical Care is making a short-notice change at the top: Shervin J. Korangy takes over as chair of the management board from Helen Giza on 12 October 2026. The appointment also marks the transition from a far-reaching transformation phase to a new growth agenda.
From the supervisory board to operational leadership
The supervisory board unanimously appointed Korangy as Chief Executive Officer and chair of the management board. In connection with his appointment, he stepped down from his previous supervisory board seat. Helen Giza, who led the company for four years as CEO and previously for three years as CFO, leaves at the end of 11 October 2026.
Korangy was most recently CEO of BVI Medical, which he developed into an internationally positioned medical technology platform. Before that, he held leadership roles at Novartis and spent more than 14 years at Blackstone, most recently as Managing Director with experience in restructuring, special situations and private equity.
Why the leadership profile is changing now
Confirmed fact: Under Helen Giza, Fresenius Medical Care realigned its portfolio, organisational structure and processes. According to the company, the FME25+ transformation programme reduced the cost base by around EUR 1.2 billion. The next phase is now intended to accelerate profitable growth, innovation and the expansion of the company’s market position.
Assessment: The succession follows a clear strategic logic. After stabilisation and efficiency gains, growth, portfolio management and capital allocation are moving more into focus. Korangy combines operational healthcare experience with private equity and transformation expertise – a profile deliberately broader than pure sector leadership for the next phase of value creation.
Three governance questions for the next phase
For the supervisory board and management board, three leadership questions are now in the foreground: how will the growth agenda be translated into concrete portfolio priorities? Which additional capabilities does the management team need for innovation and new care models? And how will the move from a supervisory board seat to overall operational responsibility be managed cleanly?
From an executive search and leadership advisory perspective, the case illustrates that CEO succession is not just a decision about a person. What matters is the fit between the company’s phase, the value creation agenda and the leadership profile. Especially after major transformation programmes, the mandate for the next phase must be redefined – before the market is searched for candidates.
Further current leadership changes can be found in DACH Executive Moves. More on CEO succession and leadership appointments: Executive Search and Leadership Advisory.
Source: Fresenius Medical Care, “Shervin J. Korangy becomes CEO of FME”, 7 October 2026.