On July 4, 2024, Smith & Nephew announced that its shares rose by 7% after Cevian Capital disclosed a 5% stake in the Company. In the statement, Cevian Capital stated that the Company owns fundamentally attractive businesses in structurally growing markets, but the Company has not generated shareholder value for many years. Cevian Capital added that it sees the potential to create significant long-term value by improving the operating performance of the Company?s businesses.

Cevian Capital also stated that it has high expectations for the board and management to realize this potential.