Edwards Lifesciences, a global leader in structural heart devices based in Irvine, California, announced that its longtime Chief Financial Officer, Scott Ullem, will step down from his role after more than a decade in the position. The company outlined that Ullem will transition to an advisory position once a new CFO is appointed, a process they expect to complete by mid-2026. The transition plan is aimed at ensuring continuity for the company’s financial leadership. Read more from the company’s press release.
The announcement, made on October 30, 2025, comes as Edwards Lifesciences reported robust financial results. According to MedTech Dive, the company posted third-quarter 2025 sales of $1.55 billion, marking a 14.7% increase compared to the prior year. Sales from its key transcatheter aortic valve replacement (TAVR) business rose to $1.15 billion, up 12.4% year-over-year. The company also raised its full-year sales guidance to the upper range of 9% to 10% growth and increased its earnings per share forecast, reflecting optimism in the wake of positive results.
Ullem’s planned exit follows another major executive transition at Edwards. Just weeks earlier, Larry Wood, the corporate vice president who played a pivotal role in expanding the aortic valve replacement business, left after two decades to become CEO of Procept BioRobotics. This makes Ullem the second senior executive to step down in as many months. (Details here)
Analysts have described the timing of Ullem’s departure as appropriate given Edwards’ strong strategic and financial situation. Richard Newitter, a Truist analyst covering the company, stated that while Ullem’s extensive tenure will be missed, "it’s a reasonable time to transition" given Edwards’ positive momentum. (Source)
The company attributed its earnings improvement to renewed interest in valve procedures, underpinned by new clinical evidence and recently updated treatment guidelines. Executives noted that procedure volumes did not decline as typically seen, although they cautioned that the accelerated growth should not yet be considered the new normal. (Earnings call transcript)
Clinical milestones were also highlighted during the quarter. Edwards reported successful results from a clinical study on its mitral and tricuspid valve technologies, and early clinical successes with its new mitral replacement valve, which received CE mark approval in the past quarter. The company anticipates full approval of the device by early next year.
As Edwards moves forward, it is also addressing regulatory scrutiny regarding a planned multimillion-dollar acquisition. The company confirmed that antitrust authorities have raised concerns about possible impact on competition in the aortic device market. Edwards continues to seek regulatory approval and expressed hope for a favorable decision by early 2025. Further details can be found on Edwards’ investor relations page.
Since joining Edwards as CFO in 2014, Scott Ullem has overseen major phases of growth, including the acquisitions of JenaValve Technology and Endotronix in 2024. (Beyond SPX coverage) Under his financial stewardship, Edwards has expanded its presence in the global market, competing with other major players such as Boston Scientific, Medtronic, and Abbott.
On the stock market, Edwards Lifesciences Corp (NYSE: EW) is currently trading at $83.07, with a recent uptick of $0.63 (0.01%) as of 16:15 PST on Monday, November 3. The company's position remains strong, fueled by its ongoing growth initiatives and strategic focus on innovation in the field of structural heart therapy.
For more details about the transition and Edwards Lifesciences’ latest performance, visit their investor relations site and MedTech Dive’s original reporting.